• May 19, 2017

    House Financial Services Committee's Proposed National Flood Insurance Program Reauthorization Bill Summary

  • April 13, 2017

    Representative Jeb Hensarling's (R-TX) summary chart of intended changes to the CHOICE Act bill he plans to introduce in the 115th session of Congress.

  • April 07, 2017

    On April 5, Senator Tom Cotton (R-AR) introduced the the Protecting Americans from Credit Entanglements Act of 2017 (S. 838), which would subject Property Assessed Clean Energy loans (PACE loans) to federal mortgage regulations authorized by the Truth-in-Lending Act (TILA).

  • April 05, 2017

    On April 5, Senator Mark Warner (D-VA) introduced a bill in the Senate that would classify municipal bonds as high-quality liquid assets.

  • April 20, 2015

    On April 15, more than 120 members of the U.S. House of Representatives signed onto a letter last week urging House Speaker John Boehner (R-OH) and Minority Leader Nancy Pelosi (D-CA) to reject proposals that would eliminate or diminish the tax-exempt status of municipal bonds.

    The letter, written by Representatives Randy Hultgren (R-IL) and Dutch Ruppersberger (D-MD), was signed by 122 House members.

  • April 16, 2015

    I would like to raise awareness of a critically important program that, although not within the jurisdiction of the Committee on Financial Services, is very often used to complement and strengthen a number of the affordable rental housing programs over which this Committee and Subcommittee does have jurisdiction. That program is the Low -Income Housing Tax Credit (“Housing Credit”), which is contained in Section 42 of the Internal Revenue Code of 1986 and, as you know, is under the jurisdiction of the Committee on Ways and Means, on which I am honored to serve. The Housing Credit embodies the concept that this Subcommittee is exploring today — it serves to increase private sector participation in affordable housing. Indeed, since its enactment as part of the Tax Reform Act of 1986, the Housing Credit has been the key financial tool utilized in virtually all affordable rental housing development and preservation. It is very often used in conjunction with the programs that I understand the Subcommittee is focused on today — properties which have Section 8 assistance and public housing, particularly public housing being developed under the new Rental Assistance Demonstration program. The Housing Credit has been tremendously successful precisely because of the private participation and the public/private partnerships that are at its heart.

  • April 30, 2014

    To provide tax relief for major disaster areas declared in 2012 and 2013 and for other purposes.

  • April 02, 2014

    The bill extends for two years the $250 above-the-line tax deduction for teachers and other school professionals for expenses paid or incurred for books, supplies (other than non-athletic supplies for courses of instruction in health or physical education), computer equipment (including related software and service), other equipment, and supplementary materials used by the educator in the classroom. A two year extension of this provision is estimated to cost $430 million over 10 years.

  • April 02, 2014

    DESCRIPTION OF THE CHAIRMAN’S MARK OF THE “EXPIRING PROVISIONS IMPROVEMENT REFORM
    AND EFFICIENCY (EXPIRE) ACT”

  • December 06, 2013

    The Housing Finance Reform and Taxpayer Protection Act of 2013 (S. 1217), also known as Corker-Warner, would phase out Fannie Mae and Freddie Mac over five years and replace them with the Federal Mortgage Insurance Corporation (FMIC), which would sell federal guaranteed catastrophic reinsurance on mortgage-backed securities (MBSs), among other provisions.