Published on: Tuesday August 9, 2022
Federal updates The latest budget reconciliation package, called the Inflation Reduction Act of 2022, passed the Senate over the weekend on a party line vote. The package is scaled back from what leadership initially hoped, focusing on climate change, reducing drug costs and taxes for large corporations. However, Democrats are celebrating it as a win … Continued
Published on: Tuesday August 2, 2022
Federal updates In case you missed it, the Treasury Department released new guidance last week that allows State and Local Fiscal Recovery Funds (SLFRF) to be used for long-term LIHTC loans. This guidance addresses a final Treasury rule published in January that inadvertently prevented recovery funds from being used for long-term housing financing in North … Continued
Published on: Wednesday July 27, 2022
Federal updates The House is planning to adjourn for August recess at the end of the week and the Senate is scheduled to leave next Friday. There is speculation that the Senate may make an attempt to pass a reconciliation package focused on lowering drug prices before they leave town. If that happens, the House … Continued
Published on: Tuesday July 19, 2022
Federal updates Senator Joe Manchin threw a wrench in weeks of reconciliation package discussions by withdrawing support for climate action and tax increases for large corporations and wealthy Americans. Both were key elements of the Democrats’ agenda that they hoped to include in a reconciliation package before the midterms. Senator Manchin said he will only … Continued
Published on: Tuesday July 12, 2022
Federal updates Congress returns this week from its Independence Day recess. Lawmakers have just a few short weeks before August recess to get anything major accomplished. If a reconciliation package is going to advance this year, it will need to happen during this time frame. Democrats are continuing to negotiate a reconciliation package deal and … Continued
Published on: Tuesday June 28, 2022
Federal updates High-level negotiations are continuing between Senate Majority Leader Chuck Schumer and Senator Joe Manchin on a revised reconciliation package. There is increasing concern that the housing investments proposed in last year’s Build Back Better will be left out of the slimmed-down package that’s currently under negotiation. Congress needs to hear from advocates that … Continued
Published on: Tuesday June 21, 2022
Unfortunately, we were unable to record today’s Housing Call. Please see today’s notes for the details of everything we discussed. Federal updates Discussions are picking up on a potential reconciliation package in Congress. Senate Majority Leader Chuck Schumer and Senator Joe Manchin met twice last week to discuss the package, while Senator Schumer and House … Continued
Published on: Tuesday June 14, 2022
Federal updates There are no new updates this week on negotiations for a slimmed-down reconciliation package. Lawmakers are still aiming to reach an agreement on a framework by July 4 and move the package through the House and Senate before Congress adjourns for August recess on August 8. Thanks to those who participated in NLIHC’s … Continued
Published on: Tuesday June 7, 2022
Federal updates Congress is back from recess this week and there are a number of priority issues pulling focus in the Senate. However, a spokesperson for Senator Schumer said that reconciliation discussions are “still ongoing” and while some funding amounts have been floated, “no numbers are set yet”. The package under discussion is significantly scaled … Continued
