Two-year budget deal negotiations continue; tax package considered as part of omnibus
With the holiday break behind them, lawmakers are in a time crunch to wrap up 2018 appropriations before yet another looming fiscal deadline in two weeks. The major budget and appropriation decisions were deferred from 2017, leaving lawmakers to likely enact another short-term Continuing Resolution to buy time for funding negotiations.
House and Senate leaders from both parties are currently negotiating a two-year budget agreement that would set new top line spending limits, a critical requirement for appropriators to begin work on annual spending bills. Similar to when deals were last brokered to raise spending caps in 2013 and 2015, negotiators are likely to be at odds over the level of an increase and over how to balance defense and non-defense spending levels.
The omnibus may even be paired with other legislative priorities, including a tax extension package and immigration reform. NAHMA and our industry colleagues are working with Members of Congress to include provisions to strengthen the Low-Income Housing Tax Credit program as part of any tax language included in the omnibus bill. We encourage NAHMA members to continue their advocacy on behalf of the Housing Credit, and in particular, on behalf of the Affordable Housing Credit Improvement Act (
S. 548 /
H.R. 1661), which strengthens and expands the LIHTC program.
