Reading the Election Tsunami: GOP Rise Clouds Landscape for Housing

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Tax Credit Advisor, December 2010: The Republican takeover of the U.S. House of Representatives in the mid-term elections creates more questions than answers regarding what Congress might do regarding affordable housing and community development issues going forward.

Industry officials expressed hope for passage of key housing-related legislation either in the lame-duck session or in the new, 112th Congress that convenes in January. Congress returned to Washington on November 15 for the start of the lame-duck session; will break for Thanksgiving; and will reconvene on November 29 to wrap up business.

Republicans will have a substantial majority control in the House next year, while Democrats retain a narrowed edge in the Senate. The GOP also picked up a number of gubernatorial seats and made big gains in state legislatures. A party switch in the governor’s mansion can lead to change in the leadership of the state housing finance agency. Read More…