NCSHA Blogs
Senate Banking Committee Leaders Announce Deal on Housing Finance Reform
This morning, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) announced that they have reached an agreement on legislation to reform the housing finance system. The senators’ announcement says they intend to introduce the legislation within days and that the Committee will markup the bill in the coming weeks. The announcement also confirms that the legislation is based heavily on the Housing Finance Reform and Taxpayer Protection Act of 2013, S. 1217, introduced by Senators Bob Corker (R-TN) and Mark Warner (D-VA).
Administration Releases Fiscal Year 2015 Budget
The Administration yesterday sent Congress its FY 2015 Budget, proposing funding for federal programs, including HUD and the Department of Agriculture’s (USDA) housing programs. In addition to funding proposals, the Budget also contains the Administration’s tax proposals.
House Passes Bill to Cap Annual Flood Insurance Premium Increases
Late on March 4, the U.S. House of Representatives passed the Homeowner Flood Insurance Affordability Act of 2013, H.R. 3370, which would roll back many of the rate increases that National Flood Insurance Program (NFIP) policy holders have been charged or are expected to be charged shortly.
Donovan: GSE Reform Must Support Affordable Multifamily Lending
Any legislation advanced to reform the nation’s housing finance system should include a federal backstop for the multifamily market and take steps to support financing for affordable multifamily properties, HUD Secretary Shaun Donovan said earlier today. Donovan spoke at an event put on by the Center for American Progress to examine the impact of housing finance reform on the rental market.
House Passes CFPB Reform Legislation
Earlier today, the U.S. House of Representatives passed the Consumer Financial Freedom and Washington Accountability Act (H.R. 3193), by a largely party-line vote of 232-182. The legislation, which is comprised of several bills previously introduced separately, seeks to bring greater accountability to the Consumer Financial Protection Bureau (CFPB) by decreasing its power and independence.
Camp Tax Reform Discussion Draft Retains and Amends Housing Credit, Eliminates Private Activity Bonds
House Ways and Means Committee Chairman Dave Camp (R-MI) has released a discussion draft and summary of legislation to reform our nation’s tax code. Camp’s discussion draft would preserve but amend substantially the Low Income Housing Tax Credit and would eliminate private activity bonds and the 4 percent Housing Credit.
Guest Post: The State of Housing in America
Today marks the first anniversary of the release of the Commission’s report, Housing America’s Future: New Directions for National Policy. As readers of this blog know, our report highlights what we consider the most urgent housing challenges facing our country.
National Housing Conference Report Finds Small Improvements, State Differences in Housing Affordability
The National Housing Conference’s Center for Housing Policy released Feb. 19 its annual Housing Landscape report entitled, The Housing Affordability Challenges of America’s Working Households. The report finds that despite small improvements in some affordability measures, many families are struggling to pay for adequate housing.
Ways and Means Committee Chair to Release Tax Reform Draft Next Week
Yesterday, Representative Dave Camp (R-MI), the Chair of the House Ways and Means Committee, announced that he will be releasing next week draft legislation to overhaul the federal tax code. In an email sent to all Republican members of the Ways and Means Committee, Camp said his legislation would make the tax code “simpler and fairer for families and employers” and help to “strengthen the economy.”
Ron Wyden Becomes Senate Finance Committee Chairman
On February 12, the Senate approved by unanimous consent a resolution naming Senator Ron Wyden (D-OR) the chairman of the Senate Finance Committee. The position was recently vacated by Senator Max Baucus (D-MT), who resigned from the Senate to become U.S. Ambassador to China.
