Deficit Reduction Bill Unlikely to Have Big Impact on Housing Now; Long-Term Effect More Problematic

摘要

Legislation to raise the debt ceiling and reduce the budget deficit over 10 years is unlikely to have a major immediate effect on federal housing and development programs, but the long-term outlook is more problematic. The bill (S. 365) passed the House, 269-161, on August 1 and the Senate, 74-26, on August 2. President Obama signed the measure into law shortly after the Senate action.