The key housing committees will have a different look in the 112th Congress, with a Republican-controlled House and a reduced Democratic majority in the Senate. Affordable Housing Finance recently asked readers how they think these changes will impact the affordable housing industry.
The majority of respondents—69.2%—said they don’t think affordable housing will be a priority for the 112th Congress. “Other issues such as the economy, health care legislation, and foreign affairs will be priority and will dominate congressional attention,” noted one respondent.
However, 19.2% of respondents are optimistic, saying they think Congress will prioritize affordable housing; the remaining 11.5% of respondents said they are unsure.
The majority of respondents—64%—also said they anticipate cuts in funding to housing programs; 20% disagreed, saying funding won’t be cut, and the remaining 16% said they are not sure.
Response was mixed on whether or not the Sec. 1602 Tax Credit Exchange Program will be extended in 2011: 46.2% of respondents said maybe, 30.8% predicted no extension, and 23.1% said the program would be extended.