Government shutdown averted with 2-week spending bill
Yesterday, Congress passed a bill extending government funding by two weeks, avoiding a government shutdown. President Trump has indicated that he will sign the short-term measure to extend the current Continuing Resolution (CR) at mostly fiscal year 2017 levels until December 22, 2017.
In the meantime, congressional leaders met this week with President Trump to discuss a longer-term spending package. Sticking points include raising the overall spending caps, preserving parity between defense and non-defense spending increases, and reaching a deal on immigration and national security issues. A year-long spending bill is also expected to be the vehicle for additional disaster recovery funding.
Tax Reform bills head to conference committee; critical action requested
This week and next are critical for the Housing Credit: Now that the House and Senate have both passed separate versions of tax reform legislation, a conference committee will begin the formal work of reconciling differences between the two bills. However, informal negotiations continue behind the scenes, with reports that the Senate-preserved tax exemption on private activity bonds – including multifamily housing bond, which are crucial to the Low-Income Housing Tax Credit program – is back on the bargaining table as the House and Senate search for common ground.
Please take a moment to contact all conferees, as well as all Republican members of the House and Senate who represent you, and ask them to weigh in with the conference committee members on behalf of the housing credit and multifamily bonds.
House Conference Committee Members
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Senate Conference Committee Members
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| Conference Chair: Ways and Means Chairman Kevin Brady (R-TX-08) |
Conference Chair: Finance Committee Chairman Orrin Hatch (R-UT) |
| Rep. Devin Nunes (R-CA-22) |
Sen. Mike Enzi (R-WY) |
| Rep. Peter Roskam (R-IL-06) |
Sen. Lisa Murkowski (R-AK) |
| Rep. Diane Black (R-TN-06) |
Sen. John Cornyn (R-TX) |
| Rep. Kristi Noem (R-SD at large) |
Sen. Rob Portman (R-OH) |
| Rep. Rob Bishop (R-UT-01) |
Sen. John Thune (R-SD) |
| Rep. Don Young (R-AK at large) |
Sen. Tim Scott (R-SC) |
| Rep. John Shimkus (R-IL-15) |
Sen. Pat Toomey (R-PA) |
| Rep. Fred Upton (R-MI-06) |
Sen. Ron Wyden (D-OR), top Democrat on Senate Finance Cmte |
| Congressman Richard Neal (D-MA) |
Sen. Bernie Sanders (D-VT), ranking member of Senate Budget Cmte |
| Congressman Sander Levin (D-MI) |
Sen. Patty Murray (D-WA) |
| Congressman Lloyd Doggett (D-TX) |
Sen. Maria Cantwell (D-WA) |
| Congressman Raúl Grijalva (D-AZ) |
Sen. Debbie Stabenow (D-MI) |
| Congresswoman Kathy Castor (D-FL) |
Sen. Bob Menendez (D-NJ) |
| |
Sen. Tom Carper (D-DE) |
Without the multifamily housing bonds, LIHTC production could be reduced by 50% annually. More information about tax reform is available in our recent
NAHMAnalysis on tax code legislation, and a list the tax reform bill’s state-by-state impact on rental homes, jobs, business income, and tax revenue is available in our most recent grassroots alert
here.
