House Panel Set to Approve HUD Funding for Fiscal 2018

Filed in Capitol Hill by on July 11, 2017 0 Comments

capitolThe House T-HUD Appropriations Subcommittee is expected this evening to approve a spending bill for HUD for fiscal 2018, which starts Oct. 1. The Senate T-HUD Appropriations Subcommittee is expected to bring forward its draft spending bill before the August congressional recess.

Of note to the housing community, the bill provides $2.9 billion for the Community Development Block Grant formula program, which is $100 million below the current funding level, and $850 million for the HOME program, which is also $100 million below the fiscal 2017 level.

The bill provides $20.49 billion for Section 8 Tenant Based Rental Assistance, (an increase from the fiscal 2017 level of $20.29 billion), with $18.71 billion for renewals and $577 million for Veterans Affairs Supportive Housing renewals.

The spending measure allocates $11.08 billion for Section 8 Project-Based Rental Assistance,  an increase from $10.82 billion for the current fiscal year.

NAHB will continue to work with Congress to ensure these vital housing programs are funded at the appropriate levels to fully fund Section 8 contracts and grant programs to best serve low- to moderate-income communities.

For more information, contact Jessica Hall at 800-368-5242 x8253.

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