On September 14th, the House Financial Services Committee approved legislation allocating $327 billion into affordable housing as part of the larger proposed $3.5 trillion budget reconciliation bill. Below are the major housing and homelessness investments currently included in the proposal:
-
$90 billion for rental assistance, including $15 billion for Project-Based Rental Assistance and $75 billion for Housing Choice Vouchers with $24 billion set aside for households experiencing or at-risk of homelessness, survivors of domestic violence, and survivors of trafficking
-
$80 billion to preserve public housing which is exempted from the Faircloth Amendment, a law that limits any net increase in the number of public housing units owned by a public housing authority
-
$36.77 billion for the National Housing Trust Fund
-
$34.77 billion for the HOME Investment Partnerships Program
-
The creation of a Housing Investment Fund with $9.64 billion initial funding to help increase the affordability, accessibility, and quality of housing
-
$8.5 billion in Community Development Block Grants
-
$1.25 billion to support fair housing activities
Take Action!
We need your support in ensuring that these allocations remain at the highest level as the legislation moves through Congress. We are once again encouraging you to call on your members of Congress to explain why these levels of funding for the above programs are important to you and/or the work you do. With a severe shortage of affordable housing for those with the lowest incomes, these programs are now more critical than ever in preventing and reducing homelessness across the country.
To find out how to contact your member of Congress, please visit LAHSA’s Legislative Affairs Resource webpage.