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Housing Call: March 8, 2022

Federal updates

  • The deadline for Congress to pass the FY22 budget is this Friday. Appropriators are expected to release the $1.5 trillion omnibus bill sometime today (Tuesday) and plan for a vote in the House on Wednesday. In addition to tying the twelve annual spending bills together into one massive omnibus, lawmakers are negotiating additional COVID-19 aid and assistance for Ukraine that is expected to move with the spending package. Both chambers need to pass it by Friday to avoid a government shutdown.

Housing organizations will be on the lookout for a remedy to recent Treasury guidance that limited the way State Fiscal Recovery Funds (FRF) could be used for LIHTC. The fix is expected to be included in the FY22 spending package.

  • During last week’s State of the Union address, President Biden called for increased affordable housing investments, “so many families are living paycheck to paycheck, struggling to keep up with the rising cost of food, gas, housing, and so much more. My plan includes more affordable housing.”

State updates



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Housing Call: March 1, 2022

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