Not all of the details of the bill have been released, but here are some of the bill’s specifics for next year’s U.S. Department of Housing and Urban Development (HUD) budget. The bill would: Cut HOME funding from FY15’s level of $900 million to an FY16 level of $66 million-essentially eliminating the program.

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Appropriations legislation currently moving through the United States Senate, however, would reduce funding for HOME by 93 percent. This massive cut follows a reduction. as the Senate bill would do.

The bill would level fund HUD Housing Counseling funding at $45 million and cut funding for the National Foreclosure Mitigation Counseling (NFMC) program to $50 million. The bill would provide $4.4 billion for the Public Housing Operating Fund and would cut the Public Housing Capital Fund to $1.8 billion.

The bill would cut overall HUD funding by $487 million compared to fiscal year 2017. The bill would provide less than is necessary to renew all Section 8 Project-Based Rental Assistance contracts, which undergird about 1.4 million homes, including about two-thirds of Section 202 homes.

Trump budget proposal would decimate HUD funding The proposal is more extreme than last year’s budget, but like last year’s, this budget is unlikely to pass By Jeff Andrews Feb 12, 2018, 5.

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Funding to maintain existing levels of Housing Choice Vouchers would effectively be cut by $1.284 billion and cause an estimated 140,000 households to lose their assistance. Based on 2018 HUD Public Use Microdata Sample, 53.25% of all households participating in the Housing Choice Voucher program have a head of household or spouse that is elderly or disabled.

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Government shutdown could affect food stamps, tax refunds The House Appropriations Subcommittee that oversees funding levels for affordable housing and community development programs at HUD will vote today on a draft Fiscal Year (FY) 2018 spending bill that significantly underfunds federal investments that serve low income people and communities.

In the document sent to Capitol Hill on Friday, the Senate’s Labor-HHS-Education subcommittee, which oversees the largest individual spending bill, would see the steepest cut. Its budget would drop by.

House bill would give HUD $13.4 billion more funding than Trump plan. In contrast to the severe cuts proposed by the Trump administration, affordable housing programs would get a tremendous boost of funding in Fiscal Year 2020 under the spending bill just released by the House Appropriations Committee.

Categories: Home Loans

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