Senate Rejects Rescission Bill That Would Have Reduced Funding for Affordable Housing Programs
On June 20, the Senate rejected the Administration-proposed Spending Cuts to Expired and Unnecessary Programs Act, 48 – 50. If enacted, the bill would have rescinded $14.7 billion in funding that had previously been approved by Congress.
The bill proposed cuts in three affordable housing and community development programs: $142 million in funding for 2018 allocations for the Capital Magnet Fund, $39 million from HUD’s Public Housing Capital Fund, and $40 million from USDA’s Section 521 Rural Rental Assistance program. NCSHA previously wrote about the ramifications of reduced funding for these programs here. Most of the remaining proposed rescissions came from the Children’s Health Insurance Fund and the Department of Energy’s Advanced Technology Vehicle Manufacturing program.
While spending measures in the Senate normally need 60 votes to overcome potential filibusters, Congress had until June 22 to pass the rescission bill with a simple majority. The House approved the bill, 210 – 206, on June 7.