Hill Update: $1.5B Over 2014 THUD
On Friday, April 17, 2015, the House Appropriations Committee released a Fiscal Year (FY) 2016 spending bill that allocates $55.27 billion for the Transportation, Housing and Urban Development, and Related Agencies (T-HUD) Subcommittee.
That funding level represents a small $1.5 billion increase over the funding level Congress appropriated in FY 2015.
At this point in the budget process, the House Appropriations Subcommittees will begin marking up spending bills. The Senate has yet to determine its funding allocation for HUD.
In addition, on Thursday, April 16, a subcommittee of the House Committee on Financial Services held a hearing on “The Future of Housing in America: Increasing Private Sector Participation in Affordable Housing.”
“Today, 75 percent of extremely low income renter households spend more than half of their income for their homes, and are one financial emergency away from not being able to pay the rent.”
Said Sheila Crowley, president and CEO, National Low Income Housing Coalition, in her testimony to the Financial Services Subcommittee on Housing and Insurance.