Closer to home for our industry was the reauthorization of the Terrorism Risk Insurance Act (TRIA), which actually became the first
legislation passed in the new Congress. In the eleventh-hour in December, the 113th Congress did manage to extend several tax provisions
important to the multifamily industry through the 2014 tax year, including the flat 9 percent Low-Income Housing Tax Credit, bonus depreciation and energy-efficiency incentives. However, because the provisions
were extended for the 2014 tax year only, we will continue to focus our
advocacy this year on renewing these tax provisions.
Other dates to keep an eye on include:
»»
February 27- Department of Homeland Security funding expires
»»
May 31- Highway Trust Fund for surface transportation projects
expires
»»
»»
March 31- ‘Doc Fix’ adjustment to physician payments for
Medicare expires
June 30- Import Export Bank charter expires
Presidential politics will, no doubt, dominate the political spotlight
in what promises to be a very busy year. After the State of the Union on
Jan. 20, presidential contenders are expected to begin announcing their
candidacy and rolling out platforms leading up to the Ames Straw Poll
in August. In September, Republicans are expected to hold their first
official debate of the cycle, and begin narrowing down their candidates
for president in 2016.
CAREER
CENTER
NAA WELCOMES 114TH CONGRESS
NAA co-hosted a reception on Capitol Hill earlier this month in
honor of the new Congress sworn in on Jan. 6. The event, The Housing
Industry Welcomes the 114th Congress, drew freshmen members of the
House of Representatives as well as current members from key Committees including House Financial Services, Ways and Means, Energy and
Commerce and the Senate Environment and Public Works Committee.
The event was sponsored by national housing organizations including
the National Multifamily Housin