National Association
of
State Budget Officers
444 N. Capitol St. NW
Washington, DC 20001
Tel: (202) 624-5382
Fax: (202) 624-7745 www.nasbo.org
The Washington Report Bulletin is
e-mailed to state budget offices every
Wednesday when Congress is in session. It is intended to provide timely
information on congressional action and legislation. For further information
contact Brian Cheung at (202) 624-8433 or bcheung@nasbo.org.
NASBO|Connects is a full-featured internet discussion forum
which serves as a central source of information and discussion for
our members, a hub of communication and a place to share successful
budget practices. To access NASBO|Connects, click
here. Click
here
for a printable version.
House to Consider Omnibus Housing Bill Today; States’ Rights Amendment to be Added
Today, Wednesday, May 7, the House is expected to consider a major housing package (H.R. 5830). The bill, the FHA Housing Stabilization and Homeownership Retention Act of 2008, combines several other measures including an expansion of the FHA’s loan guarantee program, Freddie Mac reform, the Housing Assistance Tax Act of 2008 (H.R. 5720), and Federal Housing Administration (FHA) modernization. In addition, Reps. Brad Miller (D-NC) and Steven LaTourette (R-OH) are planning to introduce an amendment that would prevent any provision in the package from preempting any state’s foreclosure law. Numerous banking groups have stated their opposition to the amendment, while twenty-five consumer groups and several unions have announced their support. Pres. Bush has expressed concern regarding the omnibus housing package, describing it as burdensome. Additionally, Pres. Bush has threatened to veto a separate housing bill, the Neighborhood Stabilization Act of 2008, passed by the House Financial Services Committee on April 23 that would authorize $15 billion in loans and grants for states to buy foreclosed properties (H.R. 5818)
Legislation to Delay Medicaid Regulations Expected to be Added to War Supplemental
Majority leaders in the House and Senate are expected to attach a bill to delay new Medicaid regulations (H.R. 5613) to the war supplemental bill, according to insiders. The House approved H.R. 5613, the Medicaid Safety Net Act of 2008, on April 23 by a veto-proof margin of 349-62. The bill delays the implementation of seven new Medicaid regulations proposed by the Bush administration until April 1, 2009. Although it was expected that the Senate would consider H.R. 5613 quickly, it has met resistance from some senators who believe that the regulations are needed. By adding the Medicaid Safety Net Act to the war supplemental bill, majority leaders in the Senate would be able to circumvent a minority led filibuster. The war supplemental bill could be brought to the House floor as early as tomorrow, May 8.
CBO States that Federal Income Tax Collections in April Met ProjectionsHeadline 3
According to an analysis released by the Congressional Budget Office (CBO) on May 6, federal tax receipts from April met earlier expectations. Receipts from tax returns were approximately 6 percent higher than last year, matching CBO’s projections from its March baseline. Even with revenue coming in as projected, CBO estimates that the federal government has recorded a deficit of $151 billion so far in fiscal 2008.
