As Congress adjourns for a two week recess, we want to update you on the Affordable Housing Credit Improvement Act (S. 1703 and H.R. 3077), and encourage you to follow up with your elected officials while they are back home to urge them to support the legislation.
We appreciate all the hard work you have been doing, and it is producing great results. S. 1703 now has 17 cosponsors with another five ready to be added after the break. H.R. 3077 is now up to 103 cosponsors. These cosponsorships are critical in showing House and Senate leadership that there is deep support for adding affordable housing legislation to bills moving through Congress this year. While we are pleased that Congress has increased its focus on affordable housing issues, October will be a pivotal month for us to make sure lawmakers are hearing from us back home.
At the same time, we are exploring with our champions potential vehicles that could carry our legislation. While we had hoped that the recently-passed short-term funding bill might provide an opportunity for S. 1703/H.R. 3077, no tax provisions were added to that bill. The funding provided in that legislation runs through November 21st, so Congress will have to consider at least one more funding bill before the end of the year. Senate Finance Committee Chairman Charles Grassley (R-IA) recently mentioned that a package of tax provisions, might be included in this year-end funding bill, and House Ways and Means Committee Chairman Richard Neal (D-MA) expressed his optimism that some tax legislation could pass this year.
While there are no guarantees, we are very encouraged by these comments and other conversations we are having with policymakers. There are a limited number of legislative days remaining in the session, and recent House activity regarding the impeachment inquiry may affect the legislative landscape. Chairman Neal, however, has stated that he does not intend to let the inquiry “get in the way” of the Ways and Means Committee’s work.
We will keep you posted on any developments, and thank you again for your continued efforts to move this much-needed affordable housing legislation. Please let us know if we can help as you touch base with your elected officials.