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An Increasing Amount of Very Low-Income Households Have Severe Housing Problems

On February 1, the U.S. Department of Housing and Urban Development (HUD) released a 66-page report entitled ‘‘Worst Case Housing Needs 2009: Report To Congress,” addressing  the housing needs of low income Americans. Renters with “worst case housing needs” are defined as low-income ... read more...

Taxability of Tax Credit Assistance Program (TCAP) Grants

When the financial crisis left Low Income Housing Tax Credit (LIHTC) projects struggling to find investors, the  American Recovery and Reinvestment Act of 2009 (ARRA) stepped in to provide funding for the Tax Credit Assistance Program (TCAP), a program that provides capital investments to  ... read more...

Obama’s FY2012 Budget Released to Congress Cuts Various Housing Programs

On February 14, 2012, the Obama administration released the fiscal year 2012 budget to Capital Hill.  The budget aims to reduce the deficit by $1.1 trillion over the next decade by cutting spending levels for numerous housing programs.  The budget provides the Department of  Housing and Urban ... read more...

Obama’s Plan to Reform America’s Housing Finance Market: Phase out Fannie Mae and Freddie Mac

On Friday, the Obama administration submitted a report to Congress on reforming the housing finance market, which consists of reducing the government’s footprint in the housing market by winding down the Government –Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac. Mortgage giants Fannie ... read more...

President Obama’s Upcoming Budget Blueprint to Include Steep Cuts to Community Programs

In less than a week, President Obama’s budget blueprint for fiscal 2012 will be released, which will possibly slash funding for two leading community programs that administer important services to underprivileged people.  In his recent State of the Union address, President Obama stated that ... read more...

President Signs the 2010 Tax Relief Act

On December 17, President Obama signed H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. The legislation passed the Senate by a vote of 81-19 on December 15 and the House approved on December 17 by a vote of 277-148. Some of the key provisions of ... read more...

The United States Senate Passes H.R. 1586, Potentially Taking Revenue Away from the Extenders Bill

The United States Senate passed H.R. 1586 yesterday, which provided a $26.1 billion fiscal aid package that will increase Medicaid and education funding to states in order to prevent thousands of public sector layoffs. The House of Representatives will be called back from recess on August 10th ... read more...

HUD Fiscal Year 2011 Appropriations – Follow-up

In follow-up to Max’s post on the proposed amendment to the HUD Fiscal Year 2011 Appropriations Act that would severely cut several important affordable housing programs administered by the United States Department of Housing and Urban Development (HUD), the amendment was withdrawn so the ... read more...

Fiscal Year 2011 HUD Appropriations Act

Today the House of Representatives will vote on an amendment to the House Transportation Housing & Urban Development Committee Fiscal Year 2011 HUD Appropriations Act. The amendment would: 1)      Cut $75,000,000 for Veterans Affairs Supportive Housing (VASH) vouchers; 2)      Cut ... read more...

Low Income Housing Tax Credit (LIHTC) Exchange Program Not Yet Addressed by United States Senate

On July 20th the United States Senate voted to extend unemployment insurance, but the rest of H.R. 4213, also known as the Jobs Bill or the Extenders Package, was left in doubt.  The Low Income Housing Tax Credit (LIHTC) exchange program is part of the bill that still remains in question. read more...