Administration Requests Funding Cuts

WH lead — Copyright: Orhan Cam, Shutterstock

President Trump has requested a reduction in federal expenditures, asking Congress to cut $18 billion from discretionary spending, for Fiscal Year 2017. The proposal calls for a $1.7 billion decrease for the U.S Department of Housing and Urban Development (HUD), eliminating HUD’s Choice Neighborhoods grants and reducing funding for the Community Development Block Grant (CDBG) program. Currently, the government is funded through April 28, when new legislation must be approved, or the government will shut down.

Of particular concern to the real estate industry is funding for the Section 8 Project-Based Rental Assistance (PBRA) and the Housing Choice Voucher programs. The PBRA program provides housing for 1.2 million household through public-private partnerships, while the Housing Choice Voucher program enables nearly two million households of low-and very low-income families access to decent, safe and affordable housing.

NMHC/NAA and the real estate industry have urged Congress to fully fund the PBRA program and provide sufficient funding to renew all Housing Choice Vouchers that are currently under lease to prevent the displacement of elderly, disabled, veterans or family households.

Administration Requests Funding Cuts

April 04, 2017