Welcome to FIVE FOR FRIDAY: A weekly roundup of public policy issues and headlines from around the Northern Virginia Region, the Commonwealth, and Capitol Hill.
by Danielle Finley, Associate Director of Political Engagement
Welcome to FIVE FOR FRIDAY: A weekly roundup of Public Policy Issues and Headlines. In this Issue: 1. What the Fed’s rate cut means for consumers, businesses and investors 2. Congress once again looks to repeal Covid-era small-business tax credit 3. In a major shift, the U.S. government explores giving renters cash, not vouchers 4. Franconia Governmental Center redevelopment divides residents, affordable housing advocates 5. ALX Housing 2040 Master Plan.
By TAYLOR TELFORD and JULIE ZAUZMER WEIL, Washington Post
The Federal Reserve cut interest rates this week for the first time in four years, putting an end to its longest cycle of rate hikes in roughly a decade. “This will improve the material well-being of all Americans,” said Joe Brusuelas, chief economist at RSM US. “We had three years of extremely aggressive policy out of the Fed. We’re now pivoting toward the normalization of rates in the post-pandemic economy.”
By ANDY MEDICI, Washington Business Journal
The potentially lucrative Employee Retention Credit is, once again, the target of a repeal effort. If successful, it would roll back many claims made this year. U.S. Sens. Mitt Romney, R-Utah; Thom Tillis, R-N.C.; and Joe Manchin, I-W.V., on Sept. 18 introduced the Employee Retention Tax Credit Repeal Act, which would end the credit for any claims submitted after Jan. 31, 2024, which, they say, would help save about $79 billion over 10 years.
By JENNIFER LUDDEN, National Public Radio
The Department of Housing and Urban Development is exploring the idea of giving struggling Americans cash aid instead of vouchers. That might seem like an unlikely, bold new move for the federal housing agency — except it turns out that back in the 1970s, HUD was already testing the idea.
By ANGELA WOOSLEY, FFX NOW
A push to redevelop the former Franconia Governmental Center site with affordable housing is still in its early stages, but passions are already running high among local residents and housing advocates. Fairfax County Redevelopment and Housing Authority (FCRHA) commissioners got to hear both supportive and oppositional arguments at a public hearing last Thursday (Sept. 12), as they weigh whether to accept an interim agreement with the project’s developers.
By THE CITY OF ALEXANDRIA
The 2013 Housing Master Plan (HMP) established principles, goals, and strategies to address Alexandria's housing needs through 2025. The City is undertaking an update to the HMP to shape the City's housing principles, goals and projects through 2040. Join us [Alexandria] as we kick off the Housing 2040 process!