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December 1, 2017
Republican Tax Proposal Nears the Finish Line
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As of early evening on Friday, December 1, the Senate was on the verge of passing tax reform legislation that would make dramatic changes to the nation’s tax code. Once passed, the bill will have to be reconciled with a House version approved November 16. As the House and Senate work out the differences in the bills NMHC/NAA will continue to meet with lawmakers on the critical elements of the code for the apartment industry. A comparison chart outlining the differences between the House and Senate tax bills and additional details can be found here

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FCC Plans to Roll Back Net Neutrality Protections

Federal Communications Commission (FCC) Chairman Ajit Pai proposed a rollback of the Obama Administration’s 2015 net neutrality rules on November 21, which generally prohibit Internet service providers (ISPs) from prioritizing, slowing or blocking online content. The new rules, expected to be approved by the Republican-controlled Commission on December 14, would require ISPs to be transparent about those practices. According to the proposal, the federal government would “stop micromanaging the Internet” and enforcement against unfair, deceptive, and anticompetitive practices would shift to the Federal Trade Commission (FTC), “without burdensome regulations.” Supporters argue that the proposal will create certainty in the market and encourage broadband investment.

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NMHC Insider
Congress Heads into the Final Stretch on Taxes and Spending Bill
As Republicans rush to pass tax reform with only Republican votes, lawmakers must also address a number of other critical issues before the end of the year. 
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Trump Administration Delays Effective Date of WOTUS
Following the Trump Administration announcement earlier this year that the controversial WOTUS (Waters of the United States) rule would be withdrawn, the Environmental Protection Agency (EPA) and the Army Corps of Engineers (Corps) have proposed a rule to push out the effective date of the rule two years ahead to delay issuing a revised rule.
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Annual Defense Bill Clears Congress with Halt to Military Housing Cuts
Congress has passed a compromise package on the 2018 National Defense Authorization Act (NDAA) that included a provision temporarily freezing reductions to military housing benefits. Previous defense authorization bills set in motion a five percent overall reduction to the Basic Allowance for Housing (BAH). NMHC/NAA have long-raised concerns about the negative impacts of BAH cuts on privatized military housing projects and strongly supported this year’s provision to halt BAH reductions pending the completion of a report on the effects of benefits cuts to the Military Housing Privatization Initiative.
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Upcoming Meetings
NMHC PAC Wrapping Up a Successful 2017

NMHC PAC Chairwoman Sue Ansel will celebrate another strong year of fundraising as she finishes her term and turns over the PAC Committee reins to David Schwartz in January.

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Hill Watch
House Financial Services Hearing on "Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform, Part IV"
House Financial Services Hearing on "Legislative Proposals for a More Efficient Federal Financial Regulatory Regime: Part II"
Media Roundup
FHFA Announces 2017 Multifamily Lending Caps for Fannie Mae and Freddie Mac
House Passes EPA Contaminated Site Clean-Up Bill
The Hill
Senate Banking Committee Approves Brian Montgomery to Lead FHA
Senate Republicans Scramble to Find Revenue for Tax Bill with Vote Expected Friday
New York Times
McConnell Works to Salvage Tax Bill
The Hill
How Tax Reform Could Accelerate GSE Reform and Not Necessarily in A Good Way
The Nation's Housing Success Story
Housing Finance
Time to Modernize Our National Flood Insurance Program
FEMA Begins 2018 NFIP Flood Reinsurance Renewal Process
Seeking Alpha
The Scoop

A Christmas Tree's 3,400-mile Journey to the Capitol's West Front

Two weeks ago, Larry Spiekermeier began his journey from Montana's Kootenai National Forest to the Capitol's West Lawn, carefully trucking the 79-foot Engelmann Spruce tree that will be this year's official Capitol Christmas tree.

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