As previously reported, the House Committee on Ways and Means is currently considering ways to reform the Internal Revenue Code. As part of this effort, the Committee has created 11 tax reform working groups which will each review specific portions of the Tax Code. The Working Groups provided an opportunity for the general public to [...]
On February 25, 2013 the Bipartisan Policy Center published a new report entitled Housing America’s Future: New Directions for National Policy.
Late Tuesday night, the House passed the previously Senate-passed bill designed to avert the fiscal cliff and put off drastic automatic spending cuts.
In passing the Housing and Economic Recovery Act of 2008 (HERA), Congress asked the Government Accountability Office (GAO), the audit, evaluation and investigative arm of Congress, to analyze and report to Congress on the changes made by HERA by the end of 2012. On December 6, 2012, GAO released that report and it is publicly [...]
On March 21, 2012, U.S. Department of Housing and Urban Development Secretary Shaun Donovan testified before the House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies calling for expansions in the Housing Credit program calling the Housing Credit “the primary tool of the Federal Government for developing and rehabilitating affordable rental housing.” [...]
On February 13, 2012 President Obama released his proposed 2012 budget. Included are 4 Low Income Housing Tax Credit provisions. Encourage Mixed Income Occupancy By Allowing LIHTC-Supported Projects to Elect a Criterion Employing a Restriction on Average Income: This proposal would allow developments to lease to residents earning up to 80% of area median income (AMI) [...]
On December 14, 2011, Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) introduced H.R. 3661 a bill which would permanently extend the flat 9% Credit rate and create a flat 4% Credit rate for allocated Credits. The bill currently has 7 cosponsors including: Vern Buchanan (R-FL); Emmanuel Cleaver (D-MO); Joseph Crowley (D-NY), Jim Gerlach (R-PA); Bill Pascrell (D-NJ); Charles Rangel (D-NY); and Lee Terry (R-NE). Additionally, Senators Maria Cantwell (D-WA) and Olympia Snowe (R-ME) introduced S. 1989 which is the Senate version of the same legislation. The Senate version currently has 9 cosponsors including: Jeff Bingaman (D-NM); Scott Brown (R-MA); Benjamin Cardin (D-MD); Susan Collins (R-ME); Mike Crapo (R-ID); John Kerry (D-MA); Robert Menendez (D-NJ); Bill Nelson (D-FL); and Bernard Sanders (I-VT).
Linked below is a rebuttal piece to Senator Tom Coburn’s (R-OK) proposal to eliminate the Low Income Housing Tax Credit, contained in his deficit reduction plan entitled “Back in Black”, released earlier this week. We strongly encourage industry organizations and companies to sign-on to this piece. A preliminary version has been distributed on the Hill. [...]
On March 4, 2011 AHTCC joined 10 other industry organizations on a letter encouraging Members of the Senate to ensure sufficient funding of Section 8 project-based contracts. As indicated in the letter, current funding proposals included in H.R. 1 will not be sufficient to honor HUD’s project-based Section 8 contracts. This Fact Sheet describes how [...]
Yesterday, in the most sweeping change in the US House of Representatives since 1948, the Republicans picked up between 63 and 67 seats to bring the number of seats held by Republicans to over 240 and those held by Democrats to below 190. In the United States Senate, the Republicans picked up 6 seats with two races in Colorado and Washington still too close to call but likely to remain Democratic. In the House, three Democratic Committee Chairman lost their seats (Rep. Ike Skelton (Armed Services); Rep. James Oberstar (Transportation); and Representative John Spratt (Budget), while others lost who held key Subcommittee Chairmanships (such as Rep. Paul Kanjorski). In the Senate, Majority Leader Harry Reid (NV) easily defeated Tea Party candidate Sharon Angle, but he will have a much diminished Majority.