NAHRO Legislative Update

 

This is Tess Hembree’s Wednesday Update from NAHRO:

Updates:

  • After a brief hiccup, HR 1/S 1 has officially been sent to the President for his signature. The bill originally passed the House midday yesterday by a vote of 227-203. The Senate approved the bill early this morning by a vote of 51-48, but because of reconciliation procedural rules, they were forced to strip a couple provisions from the bill before the final vote (including the Tax Cuts and Jobs Act title). As a result, the House had to re-vote on the altered bill this morning. The final House vote approved the bill by 224-201. None of the alterations impacted the Low-Income Housing Tax Credit, Private Activity Bonds, New Market Tax Credits, or the Historic Preservation Tax Credit.

 

The bill now moves to the President for his signature. He is expected to sign the bill once Congress approves a waiver for PAYGO because the tax bill would trigger automatic spending cuts to mandatory programs like Medicaid if Congress does not act. If bill is not signed before the end of the calendar year, the tax cuts will not take effect until 2019.

  • It’s still unclear what is going to happen with spending. The current continuing resolution expires at midnight on Friday. The House today appears to be capitulating on their plan to send a CR that includes a full-year defense spending bill to the Senate, which vowed to change it. However, revised text for a CR still has not yet been released. I tried to wait as long in the day as possible to send this, but time is running out and I wanted to get our objectives out today. The rumor seems to be that a “cleaner” CR will be proposed, but the length is unknown and what policy provisions might still be attached is up in the air. Text is supposed to be released tonight and I suspect the Rules Committee, which has been in recess subject to the call of the chair since yesterday, will act quickly once its available. It’s possible the House could vote tonight, but I’m guessing a vote tomorrow is more realistic.

 

I’ll keep you updated as a CR moves forward. At this point I’m still not anticipating a shutdown (I think there is enough incentive within the Republican party to avoid raining on their tax reform parade), but there is a lot of room for error here as the clock winds down.

Happy holidays!

Tess

 

 

 

 
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