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Boston Capital's Gasson Addresses Lawmaker Issues at Affordable Housing Conference

Thursday, October 18, 2001 - 7:00AM

Speaking to participants at Novogradac & Company LLP’s 8th Annual Affordable Housing Conference that opened today in San Francisco, David Gasson, vice president of public affairs for Boston Capital, outlined some of the affordable housing issues before lawmakers, who in the last few days have found themselves shifting their focus to matters of national security after anthrax spores showed up in their offices.

Distracted lawmakers are working from home district offices and makeshift spaces in Capital Hill hallways, said Gasson, attempting to address affordable housing matters that include the five Technical Advice Memoranda (TAMs) that the Internal Revenue Service issued a year ago. Congressional white knights Rep. Nancy Johnson (R. Conn.) and Rep. Charles Rangel (D-N.Y.) are championing the industry cause on TAM matters. “We’re trying to get the legislation through soon, but I’m not holding much hope [for quick passage],” Gasson said.

Also on lawmaker plates is the Economic Stimulus Package, a $160 billion partisan version of which passed the U.S. House of Representatives earlier this week. Economic stimulus issues that could affect the affordable housing industry are proposals for a 5-year carryback on net operating losses (NOL) and the repeal of the corporate alternative minimum tax (AMT) and making the AMT credit for corporations refundable. Gasson said the $160 billion House package has “no chance of going anywhere.” If anything, he added, a $45 billion to $65 billion package might have a 50/50 chance of success. “The business in the deepest trouble now is the U.S. government,” he noted.

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