Affordable Housing, Federal News

Uncertain Outlook for Housing Policy as House, Senate Return

 

Looking forward to the continuation of a nationwide recession and a divided Congress, the National Low Income Housing Coalition (NLIHC) has identified a number of housing-related items that are likely to be debated by Congress this year. They include:

  • Deficit reduction for the FY13 federal budget. Reduction efforts over the past 2 years included reductions to affordable housing programs.
  • Sequestration in FY13 triggered by the failure of the bipartisan committee to develop a plan to reduce the federal deficit by $1.2 trillion over the next 10 years. The discretionary programs to be cut will   affect affordable housing.
  • Fannie Mae and Freddie Mac are being prompted by the Federal Housing Finance Agency (FHFA) to do more to stabilize the housing market. One option being looked at is a REO to rental program.
  • The Section 8 Savings Act (SESA) voucher reform bill is waiting to be reviewed by the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity this year. The most recent draft of the bill would require an increase to minimum rents for participants in the program.

More information can be found in the 1/6/11 edition of the NLIHC Memo to Members. (Free registration required.)

 
 

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