NAR: HUD programs that would be cut under Trump’s budget
WASHINGTON – March 20, 2017 – Funding for the Department of Housing and Urban Development (HUD) would drop 13 percent under President Donald Trump's fiscal 2018 budget proposal.
The HUD cuts, combined with all others in the federal government's discretionary budget, would offset proposed increases in defense and homeland security funding, including an increase of $54 billion for Department of Defense programs. The budget proposal, Trump said, "follows through on my promise to focus on keeping Americans safe."
Trump's proposal is only the first step in a long budgeting process, but it identifies the priorities of his administration. Ultimate responsibility for passing the budget rests on Congress, and it could incorporate all – or some or none – of the suggestions.
So far, many members of Congress – including many Republicans – have expressed concern that the proposed cuts go too far. Rep. Hal Rogers (R-Ky.), a senior member of the House Appropriations Committee, said proposed cuts to HUD's community development grants are especially troubling because the funds are vital to many rural districts around the country.
"I am optimistic that we can work with the administration to responsibly fund the federal government, including those agencies which serve as vital economic lifelines in rural parts of the country that are still working to overcome substantial challenges," Rogers says.
The National Association of Realtors® (NAR) is looking carefully at the proposal, though the full details won't be released until May.
What would be eliminated?
Under a summary provided by the Trump administration, HUD's budget will total $40.7 billion in fiscal year 2018, down from $46.9 billion this fiscal year. Here's what's on the chopping block.
In addition, user fees under the National Flood Insurance Program (NFIP) would be restructured "to ensure that the cost of government services is not subsidized by taxpayers who do not directly benefit from those programs."
The White House's complete budget proposal can be real online.
Source: Robert Freedman, Realtor® Magazine
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