Trump Administration’s FY 2021 Budget Proposes Significant Cuts to Federal Housing and Community Development Programs
On February 10, the Trump Administration sent Congress its Fiscal Year (FY) 2021 Budget request, “A Budget for America’s Future.” The $4.8 trillion budget outlines the Trump Administration’s fiscal priorities for the coming year, including eliminating several key federal affordable housing and community development programs and arguing that states and local governments are “better positioned to comprehensively address the array of unique market challenges, local policies, and impediments that lead to housing affordability problems.”
On January 31, Harvard University’s Joint Center for Housing Studies (JCHS) released its 2020 edition of “America’s Rental Housing” report. The new report shows that, despite slowing demand and continued strength of new construction, rental markets in the United States remain extremely tight. According to JCHS, vacancy rates are the lowest in decades, the number and share of cost-burdened renters are again on the rise, and the number of people experiencing homelessness is also increasing. These conditions mark significant market changes since the Great Recession, including an influx of higher-income households, constraints on new supply, and substantial losses of low-cost rental units.
House and Senate leaders have agreed to a deal to provide full-year Fiscal Year (FY) 2020 appropriations for all federal agencies, including HUD and USDA, split into two “minibus” spending packages. The spending deal will fund HUD and USDA housing programs at or above levels proposed by the Senate earlier this year, though not as high as levels proposed by the House prior to the adoption of the bipartisan budget agreement this summer. The HOME Investment Partnerships program (HOME) is funded at $1.35 billion ― less than the $1.75 billion provided in the House version but more than the Senate version which would have flat-funded the program at $1.25 billion. The House this afternoon approved both minibuses and will now send them to the Senate. President Trump is expected to sign both spending packages before the current continuing resolution expires on Friday. Affordable housing program highlights from the spending packages are listed in the blog.
The Senate Appropriations Committee on September 19 approved unanimously the Fiscal Year (FY) 2020 Transportation, Housing and Urban Development (THUD) funding bill, which provides $48.6 billion in...
House Financial Services Committee Advances Flood Insurance Reauthorization and Other Housing-Related Bills
On May 12, the House Financial Services Committee advanced a series of housing-related measures – including bills to reauthorize and reform the National Flood Insurance Program, make FHA single-family loans more affordable and sustainable, and block HUD from implementing proposed rules that would bar families with mixed immigration status from housing assistance and alter HUD’s Equal Access Rule.
House Appropriations Subcommittee Approves FY 2020 HUD Bill with Significant Funding Increases for HOME and Other HUD Programs
On May 23, the House Appropriations Subcommittee on Transportation, Housing, and Urban Development approved its Fiscal Year 2020 funding bill, which provides $50.1 billion for HUD programs, $5.9 billion more than the FY 2019 enacted level and $13.4 billion more than the Administration’s FY 2020 budget request.
On April 17, the Department of Housing and Urban Development (HUD) released a proposed rule for Congressional review that would prohibit “mixed status families” from receiving federal housing assistance through HUD’s Public Housing, Project-Based Rental Assistance, and Housing Choice Voucher programs.
On March 11, the White House released the first part of its Fiscal Year 2020 Budget entitled, “A Budget for a Better America; Promises Kept. Taxpayers First,” outlining the Trump Administration’s priorities and funding recommendations for the next fiscal year.
Last week, Congress and the White House reached a final deal to fund the nine federal agencies without full-year spending, including HUD and USDA, for the remainder of Fiscal Year (FY 2019), thus averting another government shutdown.