THUD FY 2015 spending bill falls short of President’s proposal

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Calculator TapeThe House Appropriations Transportation, Housing and Urban Development (THUD) Subcommittee has approved a budget for the coming fiscal year. In comparison to fiscal year 2014 funding levels, the THUD bill increases spending for many federal housing programs. However, it remains shy of the funding levels recommended in President Obama’s 2015 proposal.

Some highlights from the budget include the following:

  • Public Housing Capital Fund: THUD recommends an allocation of $1.775 billion versus the President’s $1.925 billion recommendation.
  • Public Housing Operating Fund: THUD allocates $4.4 billion, while the President suggested $4.6 billion.
  • Housing Choice Vouchers: THUD trails the President with an allocation of $17.693 billion versus his $18 billion.

View the full text of the budget here and the Appropriations Committee’s summary of the budget here.

 

Topics:  Barack Obama, Legislative Committees, Public Housing, THUD Bill

Published In: Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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