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January 15, 2020 Comments Off on Good News for HUD — 2020 Budget Increases Views: 962 Connect Classroom, National News

Good News for HUD — 2020 Budget Increases

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The U.S. Congress and President Trump approved legislation to fund the government through September 20, 2020 for all federal agencies. President Donald Trump’s approval of the measure avoided the threat of a government shutdown. It also meant an increase in the U.S. Department of Housing and Urban Development’s (HUD) Fiscal Year 2020 budget. Specifically, HUD will have $49.1 billion in resources over the next year, a $4.9 billion increase above the FY 2019 level. Additionally:

  • Tenant-based rental assistance is funded at $23.9 billion, $1.3 billion above FY 2019 levels, and $1.6 billion above the President’s budget request.
  • The Office of Housing is funded at $13.6 billion, $956.8 million above FY 2019 levels, and $178.4 million above the President’s budget request.
  • The Office of Community and Planning Development is funded at $8 billion, $319 million above FY 2019 levels, and $5.1 billion above the President’s budget request.
  • Project-Based Rental Assistance is funded at $12.6 billion, $823 million above FY 2019 levels, and $550 million above the President’s budget request.

The National Multifamily Housing Council (NMHC), in partnership with the National Apartment Association (NAA), acknowledged support for the funding, noting that “funding levels are expected to support the same number of households currently assisted.” The two organizations acknowledged continued concern, however, about the “growing affordable housing crisis.”

Read more at NMHC

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