Congress reconvened on November 30, presenting a chance to pass a stimulus bill to inject more cash into the economy. But time is short. Lawmakers are returning to Washington, DC, for a short session due to end before Christmas. They also have to use the time to pass legislation to avert a government shutdown on December 11.

The Federal Reserve and the Treasury Department have agreed to extend the life of four emergency lending facilities to March 31. Treasury Secretary Steven Mnuchin sent a letter to Fed Chair Jerome Powell approving the extension of the Fed's Commercial Paper Funding Facility, Money Market Mutual Fund Liquidity Facility, the Primary Dealer Credit Facility, and the Paycheck Protection Program Liquidity Facility.

LISC CEO Maurice A. Jones joined President Bill Clinton, former HUD Secretary Julian Castro, and Atlanta Mayor Keisha Lance Bottoms to talk solutions to the housing crisis in a post-pandemic landscape on a Clinton Foundation video-streamed panel, "Affordable Housing and (Re)building the American Dream."

Although the U.S. economy has gradually recuperated over the past few months, a record new wave of COVID-19 cases began to take hold in October. The latest numbers from the Brookings Institute's Metro Recovery Index point to a weakening regional economic picture, even ahead of the alarming caseload and hospitalization peaks occurring in November.

This year, the COVID-19 pandemic, a powerful movement for racial justice, and the devastating impacts of climate change have combined to bring the nation's longstanding housing challenges to the fore. The Joint Center for Housing Studies at Harvard University released the 2020 State of the Nation's Housing report during a live-streamed event.

Illinois will borrow $2 billion through the Federal Reserve's short-term lending program that expires at the end of the year, Gov. J.B. Pritzker announced Wednesday. The state had been weighing how much to tap of the $5 billion in authority granted by state lawmakers in the spring when they signed off on the $43 billion general fund budget for the fiscal year beginning July 1.

Michigan Gov. Gretchen Whitmer is asking the Michigan legislature to pass several measures, including a $100 million COVID-19 relief bill. The letter comes after Whitmer requested more federal aid to help fight COVID-19, and she also thanked Shirkey and Chatfield for urging feds to get additional economic relief in a meeting with President Donald Trump last week.

Statehouse Democrats on Sunday unveiled eight coronavirus relief bills they will prioritize during Colorado's special legislative session, which begins Monday and will run at least three days. The legislation, much of it bipartisan, includes direct payments to small businesses, tax forgiveness, grants for child care centers, and money to expand broadband access.

CDFA // BNY Mellon Development Finance Webcast Series: Educational Facilities Funding Solutions
Tuesday, December 15, 2020 - 1:00 PM Eastern

CDFA-PFM Capital Markets Webinar Series: Mitigating Default Risk with Bond Guarantee Programs
December 17, 2020 - 2:00 - 3:30 PM Eastern