Encouraging step, but work still to be done

On May 14th, an encouraging step was taken on the Hill. As part of the supplemental spending bill, the Senate included language to make clear that HOME/TCAP funding in ARRA applies to GO Zone disaster credits. This is significant because the Senate recognized that GO Zone and disaster credits were inadvertently left out of ARRA and moved swiftly to correct the oversight.

However, the supplemental spending bill would not reverse Treasury's interpretation to exclude GO Zone credits from the exchange program. Thus, there is work left to be done, but progress has been made!