Top 3 Things to Know from Washington
1. MBA Pushes for Action on Reintroduction of Trigger Leads Bills
MBA has issued a Mortgage Action Alliance (MAA) Call to Action urging members to contact their U.S. Representative and U.S. Senators to cosponsor the Homebuyers Privacy Protection Act of 2025 (H.R. 2808 and S. 1467, respectively). Reintroduced by Representatives John Rose (R-TN) and Ritchie Torres (D-NY) and Senators Bill Hagerty (R-TN) and Jack Reed (D-RI) in the 119th Congress, this important piece of legislation would eliminate the abusive use of mortgage credit trigger leads – during both multi- and single-family real estate transactions – while preserving their deployment in appropriately limited circumstances.
A coalition letter of support for the reintroduction of this bipartisan, bicameral measure can be found here. Click here to see the supportive statement from MBA President and CEO Bob Broeksmit, CMB.
2. House and Senate Approve Identical Budget Frameworks; Sets the Stage for Major Tax Policy Debate
The full House recently passed a version of the Fiscal Year 2025 Budget Resolution (House Concurrent Resolution 14) that mirrors a framework recently/previously adopted by the Senate. The 216–214 vote, passed along party lines, formally sets the stage for a sweeping tax reconciliation package as Congress begins to debate the fate of expiring provisions from the 2017 Tax Cuts and Jobs Act (TCJA).
More specifically, the resolution framework sets in motion a high-stakes process that will likely feature sharp disagreements between fiscal hawks and moderates over revenue, spending priorities, and the size, scope, and targeting of tax relief. For the real estate finance sector, the outcome of this debate could significantly impact key tax incentives that support an ongoing public appetite for commercial/multifamily real estate investment. MBA remains actively engaged with lawmakers and key staff in hopes of ensuring that favorable current tax provisions — including those benefiting mortgage borrowers, lenders, and investors — remain protected.
3. Bipartisan LIHTC Expansion/Improvement Legislation Reintroduced
Last week, a bipartisan coalition of House lawmakers reintroduced the Affordable Housing Credit Improvement Act of 2025 (AHCIA), H.R. 2725, a comprehensive bill to expand and strengthen the Low-Income Housing Tax Credit (LIHTC) program. Introduced by Reps. Darin LaHood (R-IL) and Suzan DelBene (D-WA) (and more than 100 original co-sponsors), this legislation reflects existing support for targeted solutions to the nation's affordable housing shortage. Senate companion legislation is expected to be introduced at the end of this month.
The bill includes a 50 percent increase in Housing Credit allocations over two years, a reduction in the Private Activity Bond financing threshold from 50 percent to 25 percent, and new basis boosts for developments in rural, Tribal, and extremely low-income communities. If enacted, the legislation is projected to finance nearly 1.6 million new affordable rental homes over the next decade. MBA has long supported enhancements to the LIHTC program as a cornerstone of multifamily housing production. The reintroduction of the AHCIA ensures that LIHTC-related policies will likely be a central component of the broader tax policy debate in the months ahead.