NAHB Urges Senate Panel to Boost Funding for HOME Program

Filed in Capitol Hill by on June 24, 2015 1 Comment
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REPID PERCENT DECREASE

As the Senate Transportation, Housing and Urban Development (T-HUD) Appropriations Subcommittee prepares a spending bill for fiscal 2016, NAHB is urging lawmakers to restore funding for the Home Investment Partnerships (HOME) Program.

The HOME program is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.

The Senate panel is proposing just $66 million for the program in fiscal 2016.

The House has proposed $767 million in funding, which is $133 million below the current fiscal year level of $900 million. To make up for the shortfall, the House has directed that $133 million be switched from the National Housing Trust Fund to the HOME program, which would effectively eliminate funding for the trust fund.

NAHB has notified the Senate of our concerns regarding this issue. It has been rumored that the drastic cut to the HOME funds is actually a political negotiating tool because the funding levels set under sequestration are too low to fund any programs.

Unlike the House spending bill, the Senate is not taking steps to redirect funds from the National Housing Trust Fund into the HOME program.

NAHB is urging senators to offer an amendment to increase HOME funding when the full T-HUD Committee considers the spending bill on June 25.

In addition, NAHB continues to work with lawmakers in both chambers of Congress to seek the highest possible funding level for the HOME program as well as all other housing programs as the appropriations process moves forward.

 

 

 

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