As last-minute negotiations on a package to finalize spending for FY 2016 and tax extenders falter, the newly-elected House Ways and Means Chairman Kevin Brady (R-Texas) last night filed a straight two-year tax extenders bill that includes the 9 percent Low Income Housing Tax Credit (LIHTC).
Reach out to your members of Congress today to urge them to support an extension of both the 4 percent and the 9 percent LIHTC.
Discussions continued over the weekend on the final omnibus spending package for the remaining nine months of FY 2016, but hit a snag over the attachment of a tax extenders package to the omnibus that would make certain tax provisions permanent.
With the issues still unresolved and lawmakers facing a rare weekend session, Chairman Brady filed a bill late last night a two-year bill that would retroactively apply to 2015 and going forward in 2016. The bill includes the 9 percent LIHTC, but not the 4 percent. Chairman Brady said he hopes to hold a House floor vote on the bill this week.
Congress is also expected to vote this week on a short-term stopgap spending bill that will keep the government open after the expiration of the current CR on Friday, December 11. Lawmakers have been told to stay in Washington for Friday votes and have been warned that work could continue through the weekend. In addition to the controversy over tax extenders, leadership also needs to work through disagreements over several policy provisions that House Minority Leader Nancy Pelosi (D-Cali.) described as “poison pills.”
NAHRO will continue to report through the NAHRO on the Hill blog and Direct News emails as more information becomes available.