Treasury Considers Extraordinary Measures as Debt Ceiling Near
In anticipation of hitting the debt limit, the Department of the Treasury released a list of potential measures to slow the current debt pace. The measures being considered include Treasury investments in federal retirement systems, use of Treasury securities and possible suspension of the State and Local Government Series Securities. The SLGS allows issuers of tax-exempt bonds to further invest proceeds of those bonds.
The Treasury’s announcement comes as debate surrounding the national debt limit has taken center stage. Several GOP House members have focused on the debt ceiling, which is expected to be hit in early summer, and seek to couple an increase of the ceiling to broader budget cuts. The Treasury has not released a time frame for enactment of its measures. Read more.
White House Announces Actions to Protect Renters, Promote Affordability and Engage State and Local Entities
The Biden administration released a fact sheet on actions to protect renters and promote rental affordability. The first action, announced on Jan. 25, comes in the form of a Blueprint for a Renters Bill of Rights to identify practices that more fairly treat rental tenants and applicants. The White House is engaging state and local stakeholders and private housing actors to protect renters in line with the blueprint.
Additionally, the administration is launching the Resident-Centered Housing Challenge—a call to action targeting housing providers and other stakeholders to strengthen practices and commit to improving the quality of life for renters. The challenge, which will take place in spring 2023, encourages state and local governments to enhance existing policies and develop new ones that better promote fairness and transparency in the rental market.
Some states have already committed to the challenge through policies that target annual rental cap increases for federally and state-subsidized affordable housing.
To join the challenge, complete this survey by April 28.
Direct questions regarding the White House Resident-Centered Housing Challenge to RCHousingChallenge@who.eop.gov.