NCSHA Blogs
White House Releases Additional FY26 Budget Documents
The Trump Administration has released additional supporting materials for its Fiscal Year 2026 (FY26) Budget Request. These new materials, including an appendix from the Office of Management and Budget and “Congressional Justifications” for individual agencies such as the U.S. Departments of Housing and Urban Development and Agriculture, expand on the limited information provided earlier in the so-called “skinny” budget. However, much information still has not been released, including descriptions of tax proposals and potential housing finance reform ideas. Overall, the changes proposed in the FY26 budget envision a dramatic reduction in federal support for affordable housing and a major restructuring of how the remaining federal assistance is delivered.
House-Passed Reconciliation Bill Provides Largest Housing Credit Expansion in Quarter Century
This morning, the House passed the 2025 reconciliation legislation, titled the “One Big Beautiful Bill Act,” by a 215 – 214 vote, sending the bill to the Senate, which will consider it after it returns from the Memorial Day recess. The bill represents the largest increase in Housing Credit resources since Congress raised the caps on Housing Credits and Private Activity Bonds and indexed the caps for inflation 25 years ago.
House Tax Bill Would Expand Housing Credit, Lower Bond Financing Test, Facilitate Production in Rural and Native American Areas
This afternoon, the House Ways and Means Committee released text of the tax portion of the major 2025 reconciliation bill Republicans are drafting to enact much of President Trump’s agenda, including extensions of the Tax Cuts and Jobs Act provisions set to expire at the end of 2025, initially enacted in the president’s first term in office. In a major victory for NCSHA and our affordable housing advocacy partners, the bill includes a major expansion of the Low-Income Housing Tax Credit, incorporating several of the key provisions designed to increase the supply of rental housing from the Affordable Housing Credit Improvement Act.
Trump Administration Releases “Skinny” FY26 Budget Proposal
The Trump Administration has released a preliminary version of the President’s Fiscal Year 2026 Budget Request. Information in the materials provided so far is extremely limited, but the budget proposes an overwhelming reduction in federal resources supporting affordable housing. This blog will be updated when additional supporting materials become available.
Senators Cortez Masto and Cassidy Reintroduce Bipartisan Legislation to Strengthen MRBs and MCCs
Senators Catherine Cortez Masto (D-NV) and Bill Cassidy (R-LA) earlier today introduced the Affordable Housing Bond Enhancement Act. This legislation, which NCSHA has worked on closely with the senators’ offices, will expand the state housing finance agencies’ ability to provide affordable homeownership and rental housing and use tax-exempt bond authority more efficiently by strengthening the Mortgage Revenue Bond and Mortgage Credit Certificate programs.
Neighborhood Homes Investment Act Introduced in House
Congressmen Mike Kelly (R-PA) and John Larson (D-CT) today introduced the Neighborhood Homes Investment Act of 2025 (NHIA). The legislation, one of NCSHA’s top policy priorities, seeks to increase the supply of affordable for-sale housing through a new tax credit.
House Housing Champions Release Housing Credit Expansion Legislation
Today, House Ways and Means Committee member Representative Darin LaHood (R-IL) introduced the Affordable Housing Credit Improvement Act (AHCIA) of 2025, to expand and strengthen the Low-Income...
HUD Publishes Final HOME Rule
On January 6, the U.S. Department of Housing and Urban Development’s Office of Community Planning and Development published a final rule in the Federal Register making changes to the HOME Investment Partnerships program regulations. The final rule, which goes into effect February 5, represents the most significant regulatory update to the HOME program since the 2013 final HOME rule.
FHA’s Annual Report Spotlights Agency’s Role in Supporting Underserved Home Buyers
The Federal Housing Administration last week released its 2024 Annual Report to Congress. The report finds FHA continued to play a critical role in supporting home financing for first-time home buyers and underserved borrowers in fiscal year 2024.
