Final Negotiations Taking Place on Build Back Better Spending Package – Funding for Housing Programs at Stake

CARH’s Broadcast Email—Legislative Alert—CALL TO ACTION!!!

CARH, as well as many other housing organizations, continue to work nonstop on advocating that appropriate funding is provided for all housing programs and that the Housing Credit and Housing Bond programs are enhanced. Our October 14, 2021, Broadcast Email provided you with an update on funding issues and legislation in support of housing and Housing Credits.

Negotiations are continuing on the Build Back Better spending package originally pitched at $3.5 trillion, with the cost being brought down to around $1.5 to $1.7 trillion to satisfy the concerns some moderate Senators voiced. Of that, housing would get $150 – $175 billion, down from the $300 billion level originally proposed by the House Financial Services and the Senate Banking, Housing and Urban Affairs Committees. Congress and the White House are hoping to finalize the legislation this week. CARH members need to continue their outreach – especially to members of Congress who are Democrats – on the need for funding for Rural Development’s (RD) multifamily programs. CARH’s Infrastructure and Rural Housing Issue Brief can be used with your communications.

In addition, a letter was sent yesterday from the ACTION Campaign, which CARH is a steering committee member, and hundreds of other affordable housing stakeholders from around the country to President Biden, Speaker Pelosi, and Leader Schumer. The letter urges that the Housing Credit production provisions be preserved in the pared down Build Back Better package. Again, we would urge you to immediately share this letter with your members of Congress and ask that they continue to voice their support for the Housing Credit production provisions to Congressional leadership and the White House in these final negotiations. CARH’s Housing Credit and Housing Bond Programs and Rural Housing Issue Brief may help you in those discussions.

Don’t forget to keep the national CARH office apprised of your contacts, their response, and if follow-up is needed from the national CARH staff with specific members of Congress and or their staffs.

To contact your Senators, click here.
To contact your Representatives, click here.

Please contact the CARH national office at carh@carh.org or 703-837-9001 should you have questions or concerns. For other news and information affecting the affordable rural housing industry, please visit the Newsroom on CARH’s website, www.carh.org.