Dana Bartolomei
Senate Appropriations Committee Releases FY 2023 Spending Bills
Yesterday, the Senate Appropriations Committee released twelve FY 2023 appropriations bills, including the FY 2023 Transportation, Housing and Urban Development, and Related Agencies (THUD) and Department of Agriculture, Rural Development, Food and Drug Administration, and Related Agencies (USDA) appropriations bills.
House Appropriations Committee Passes FY 2023 Spending Bill
Last week, the House Appropriations Committee passed the Transportation, Housing and Urban Development, and Related Agencies fiscal year 2023 appropriations bill, which would increase annual funding levels for U.S. Department of Housing and Urban Development (HUD) programs in FY 2023. The bill would provide $62.7 billion for HUD programs and activities, $9 billion more than the FY 2022 enacted level and $1.1 billion above President Biden’s FY 2023 budget request.
White House FY 2023 Budget Proposes Major Increases in Housing Funding and New Programs to Increase Housing Supply
Today, the Biden Administration submitted to Congress the President’s Budget for Fiscal Year (FY) 2023, outlining the administration’s fiscal priorities for the coming year. The Budget includes substantial investments in housing to advance efforts to end homelessness, increase housing supply, expand homeownership opportunities for underserved borrowers, increase climate resilience and energy efficiency, strengthen communities facing underinvestment, and address and prevent housing-related discrimination.
Congress Close to Finalizing FY 2022 Spending Bill
This week, Congress took a crucial step toward finalizing Fiscal Year (FY) 2022 appropriations. Late last night, the House of Representatives passed an omnibus appropriations bill (H.R. 2471), consisting of all 12 FY 2022 appropriations bills, including the Transportation, Housing and Urban Development (THUD) appropriations bill and the Agriculture and Rural Development appropriations bill, which provide funding for the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture (USDA) rural housing programs.
FHFA Announces Largest Allocation Yet to Housing Trust Fund and Capital Magnet Fund
Today, Federal Housing Finance Agency Acting Director Sandra L. Thompson announced the Housing Trust Fund (HTF) and the Capital Magnet Fund (CMF) will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). HTF will receive $740 million, an increase of $29 million from the previous year, and CMF will receive $398 million, an increase of $15 million from the previous year. These are the largest amounts ever provided to these programs from the Enterprises.
Congress Passes Continuing Resolution to Keep Government Running Until March 11
On February 17, the Senate passed a continuing resolution (CR) funding the federal government through March 11, giving Congress more time to finalize Fiscal Year 2022 appropriations bills.
Senate Unveils Remaining FY 2022 Appropriations Bills Including THUD Appropriations
The Senate Appropriations Committee released nine FY 2022 appropriations bills on October 18, including the Transportation, Housing and Urban Development (THUD) appropriations bill, which provides funding for U.S. Department of Housing and Urban Development (HUD) programs.
