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September 22, 2017
Top Lawmakers Meet with NMHC Members
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Last week, members from across the country met in Washington, D.C., for NMHC’s 2017 Fall Board of Directors and Advisory Committee Meeting. The fall meeting is always heavy on politics and policy, and this year’s program included discussions with more than 15 members of Congress.

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HUD Leadership Falls into Place

Over the last few weeks more of HUD’s leadership has become clear with Pam Patenaude’s Senate confirmation as Deputy Secretary and the nomination of Brian Montgomery to head the FHA, the same position he held during the George W. Bush administration. 

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NMHC Insider
This Week in Washington
As President Trump made his first speech before the United Nations General Assembly (UNGA) this week in New York, Congress continued its work on three main issues: healthcare, tax reform and the budget.
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TAX REFORM
Ahead of New Tax Reform Details, Apartment Industry Reminds Lawmakers of Top Priorities
As the Administration and Congressional Republicans prepare to release additional tax reform details next week, NMHC/NAA continues to remind lawmakers about the multifamily industry’s key tax reform priorities. The apartment industry recently submitted a statement for the record for a Senate Finance Committee hearing on business tax reform. Additionally, NMHC President Doug Bibby published a tax reform op-ed in The Hill, a Capitol Hill newspaper widely read by policymakers.
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DATA SECURITY and BREACH NOTIFICATION
Major Equifax Data Breach Spurs Federal Action
Equifax, one of the three biggest consumer reporting agencies, on September 8 announced that sensitive information on up to 143 million consumers was compromised from mid-May through July because of a vulnerability in one of its websites. The information is reported to include names, Social Security numbers, birth dates and addresses, driver’s license numbers, and in some cases, credit card numbers. Multifamily firms often use Equifax consumer reports and similar products during the resident screening process.
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NATIONAL FLOOD INSURANCE PROGRAM
Harvey and Irma Bring New Urgency to Flood Insurance Program Reauthorization
As communities across the south focus on immediate concerns such as saving and protecting lives and property and bringing badly-needed resources to the area, the costs inflicted by the recent hurricanes will be felt for months and years to come.  NMHC/ NAA will closely monitor the aftermath of Hurricanes Harvey and Irma with our members and will work with state, local and federal officials to ensure the disaster recovery and housing needs of those affected are met.
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TAX REFORM
Tax Reform Has Potential to Solve The Housing Affordability Crisis
Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort.

You might be forgiven if you thought the above quote was given in recent weeks by the likes of Speaker Paul Ryan (R-Wis.) or Ways and Means Chairman Kevin Brady (R-Texas) or Senate Finance Chairman Orrin Hatch (R-Utah). However, this sentiment was actually offered by President John F. Kennedy over 50 years ago.
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DATA SECURITY and BREACH NOTIFICATION
NMHC Launches New Cybersecurity Alert System
NMHC is launching a new cybersecurity notification system to inform members of real-time cyber threats. For additional information, a Cyber Security white paper can be found here.
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HURRICANES
NMHC Hurricane Resource Center
As communities throughout the South continue to recover from hurricanes Harvey and Irma NMHC has prepared a Resource Center for residents as well as owners and managers.
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NMHC MEETINGS
Registration Savings End Today for NMHC OPTECH
Register today to take advantage of registration savings for the 2017 NMHC OPTECH Conference and Exposition, taking place October 25-17 in Las Vegas. OPTECH is the premier destination for what’s next in multifamily, providing a forum for senior practice leaders from a wide variety of disciplines a platform to collaborate on strategic action, incubate new ideas and elevate the industry across all areas of business operations and technology.
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Upcoming Meetings
NMHC PAC
NMHC PAC Committee Convenes During Fall Board
The NMHC PAC Committee took time to share updates about the PAC, the disbursement strategy and funding to date.
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Hill Watch
Senate Committee on Finance Hearing to Consider the Graham-Cassidy-Heller-Johnson Proposal
Media Roundup
Urgency Felt as Tax Reform Lags
The Hill
Republicans Looking for Easiest Way Out on Taxes
Bloomberg
'Big 6' Likely to Scrap 15 Percent Corporate Tax Rate In Statement Next Week
Politico
NFIP Likely Needs Increase in Borrowing Authority To Cover Harvey Claims
Business Insurance
FEMA Enhances Flood Claims Process, Extends Renewal Grace Period
Naples News
Why the Federal Flood Program Is Sinking Deeper into Debt: CBO Report
The Insurance Journal
Mnuchin Says GSE Reform is a 2018 Issue
Builder Online
'You've Got to Go': How The GOP Persuaded Trump to Campaign In Alabama
Washington Post
For Alabama Voters, a 'Choice as Clear as Mud'
Politico
The Hidden Cornerstone of Tax Reform Could Lead to Huge Economic Growth
Washington Examiner
The Scoop

Multifamily and Coming Tax Reform

There’s much going on inside the Beltway that will impact the commercial real estate industry, no sector more than multifamily. One RED Capital insider lays out the prospects in this exclusive Q&A.

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