Michael J. Novogradac, CPA, discusses the status of tax extenders and the Obama Administration's plan to propose a budget next week for fiscal year 2013. He also reminds listeners about the upcoming deadline to submit comments on the Volcker Rule. Then, he summarizes Fannie Mae's and Freddie Mac's multifamily business in 2011 and shares remarks made by Treasury Secretary Tim Geithner about the Administration's plan to wind down the GSEs. Next, he discusses a bill that would eliminate all energy specific tax credits and alerts listeners to the impending release of an audit on the Section 1705 loan guarantee program. Then, he discusses the latest developments in the Historic Boardwalk Hall case and state historic tax credits in Indiana and Nebraska. Finally, he discusses the comment letter submitted by New Markets Tax Credit Working Group in response to the CDFI Fund's invitation for suggestions on how to make the new markets tax credit program more efficient.