Economic Stimulus Package Information
Created: 2009-02-04 11:43:54
Dear NYSPHADA Members:
THE ECONOMIC STIMULUS BILL
You are likely hearing a lot about the economic stimulus package winding its way through the halls of Congress. The stimulus bills contain both spending and tax cut components. They are separate and distinct from the Fiscal Year 2009 omnibus appropriations bill, which is also being developed but on a later track.
Here is a brief explanation of the current state of play:
The House of Representatives passed an $819 spending package last week on a party-line vote. The Senate is currently debating its $884.5 billion version of the spending package. The list of amendments continues to grow, as the package becomes more controversial. The Senate expects to debate the bill every day this week and perhaps into the weekend. In spite of the bickering over what is and is not "stimulus" , I expect the bill will pass the Senate. Then both House and Senate versions will go to a conference committee and one bill will be produced. That compromise bill will then go to the House floor and Senate floors for final passage. Debate on "conferenced" bills is generally limited and short.
Speaker of the House Nancy Pelosi and Senate Majority Leader Harry Reid have both warned their colleagues that President's Day recess will not begin at the end of next week unless the bill has been finalized and sent to the President for his signature.
What does this mean for you? The House bill would provide an incredible $5 billion in capital fund monies. Of that $5 billion, $4 billion would be distributed according to current formula and the remaining $1 billion may be distributed through a competitive process directed by the Secretary of the Department of Housing and Urban Development.
The Senate bill would also provide $5 billion in capital fund monies. However, it would break it down with $3 billion provided through the formula and $2 billion provided through competition. NYSPHADA has weighed in our strong preference for the House language, since it contains a larger percentage of formula funds.
What can you do now? Contact your House Member and Senators and thank them for their support for public housing, as evidenced by the inclusion of these much needed capital funds. They may all be reached through the Capitol Hill switchboard, at 202 224-3121. Share examples of what you plan to achieve, and how fast you will achieve it. Describe why you prefer to receive a larger formula allocation, rather than participate in an unknown competitive process.
As always, please call me at 202 742-4557 or reply to this email with any comments or questions. More information to come as the political landscape changes!
JOIN US NEXT MONTH
NYSPHADA will continue its tradition of hosting Federal legislative and regulatory meetings in conjunction with NAHRO's Annual Legislative Conference. This year's NAHRO conference will take place in Washington, DC from March 16th to March 18th. Details on registration and lodging may be found at nahro.org. We will kick-off our meetings on Monday afternoon, March 16th. A planning conference call will be held in advance. Please let me know if you are planning to attend, and if you would like me to arrange a meeting for you with your Congressperson. We are seeking group meetings with Senator Schumer, Senator Gillibrand, HUD officials and key Congressional Committee staff.
We value your participation and welcome newcomers!
Sincerely,
Melody Fennel
NYSPHADA Legislative Consultant
Melody H. Fennel
Fennel Consulting, LLC
101 Constitution Avenue, N.W.
Suite 900 East
Washington, D.C. 20001
phone: 202.742-4557
fax: 202.315-3045