The Trump administration this week released its $4.8 trillion fiscal year (FY) 2021 budget request, which includes $741 billion in defense spending including overseas contingency operations and other adjustments and $590 billion for nondefense spending including adjustments, a cut of $37 billion or nearly 6 percent from the current law FY 2021 spending cap.Of the nondefense discretionary budget, the administration requested $47.9 billion in gross U.S. Department of Housing and Urban Development (HUD) spending, an $8.6 billion (15.2 percent) cut from the amount appropriated in FY 2020, but $3.8 billion (8.7 percent) more than the FY 2020 request.Given that the current law nondefense spending cap for FY 2021 is only $5 billion more than FY 2020, and the cost of veterans health care is expected to increase substantially, it will be very difficult for HUD to receive a substantial increase in funding.
Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. Furthermore, just to maintain the current households in HUD rental assistance programs will require an increase of about $2 to 3 billion.Highlights of the FY 2019 HUD budget request follow.The request provides $12.6 billion for Project-Based Rental Assistance (PBRA), which is $72 million (0.5 percent) more than FY 2020 and $621 million (5.2 percent) more than the FY 2020 request. Family Unification vouchers will receive double the $20 million in funding allocated in FY19.Additionally, a new pilot program will be funded to provide vouchers and mobility services to help low-income families with children move to areas of opportunity. Of that amount, nearly $17 billion is for Section 8 Housing Choice Voucher contract renewals, which is a $4.5 billion (21.1 percent) cut from FY 2020, and $3.2 billion (15.7 percent) more than FY 2020 request. U.S. Department of Housing and Urban Development | 451 7th Street S.W., Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 Post was not sent - check your email addresses! This includes regular maintenance, utilities, staffing, accounting, local fees and similar expenses needed to operate rental housing. President Donald Trump announced his budget proposal Monday for fiscal year 2020, including a nearly 7% increase for the But this proposal is actually a decrease from 2019’s enacted budget. It provides no funding for the Public Housing Capital Fund, a cut of $2.9 billion from FY 2020; and $3.6 billion for the Public Housing Operating Fund, a $977 billion (21.5 percent) cut from FY 2020, but $709 million (15 percent) more than the FY 2020 request.As with TBRA, the budget proposes to transfer the amount of public housing capital and operating funding that Moving To Work (MTW) agencies receive into a new account explained below.As in previous requests, the budget proposes to eliminate the public housing cap on the RAD program. The Operating Fund supports the management and daily operations of Public Housing Properties. Some high impact programs, like the Project Based Rental Assistance program, do not see direct cuts but are only funded to sustain existing assistance without creating new housing opportunities. Funded at $2.75 billion in Fiscal Year 2019, the Public Housing Capital Fund would be eliminated in the FY 2020 White House Budget. Trump’s 2020 budget: The top 10 takeaways Trump proposes big cuts to health programs for poor, elderly and disabled The federal deficit ballooned at start of …
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Due to a high volume of calls and modified office hours in most areas, expect a long wait time (days or weeks) for a response. It is unlikely Congress will go along with repealing such programs. It received $175 million in FY 2020.Like previous requests, the FY 2021 request proposes to eliminate the Housing Trust Fund and Capital Magnet Fund, and the Fannie Mae and Freddie Mac assessments that fund them. However, FY20 funding to renew vouchers that are already in use is only funded at $20.116 billion. Stay tuned. Novogradac Online LIHTC Property Compliance Workshop - (Aug 2020)Novogradac Online LIHTC Property Compliance Workshop - (Aug 2020)Novogradac LIHTC Acq/Rehab Overview Webinar (Aug 2020) On February 10, 2020, the Trump Administration announced its proposed Fiscal Year 2021 Budget for the U.S. Department of Housing and Urban Development (HUD), a $47.9 billion plan that expands resources to prevent/end homelessness; invests record funding to reduce lead and other home health and safety hazards; and preserves rental assistance to HUD-assisted households.
