November 17, 2017
- Thanks to the efforts of many across the U.S., the Senate released a ” modified chairman’s mark” as an edit to the their initial “Tax Cuts and Jobs Acts” proposal. Senate members busied themselves by making a number of changes to its initial proposal. For instance, the new version currently perseveres the Low-Income Housing Tax Credit (Housing Credit) among other housing initiatives. The Senate’s “Tax Cuts and Jobs Acts” version two, attempts to support affordable housing while saving the country costs for such programs.
- The United States Department of Housing and Urban Development (HUD) published its annual report to Congress regarding the state of the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance (MMI) Fund. The annual report notes the FHA’s funds fell by 2.09%, totaling $1.9 billion. The above mentioned evidence supports Obama’s proposal to reduce the “FHA’s annual mortgage insurance premium.“