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From NAHBNow

President Trump is seeking to reduce the 2020 budget for the department of Housing and Urban Development (HUD). The budget cycle begins October 1, 2019 and runs through September 30, 2020.

While no White House budget is ever approved “as is” by Congress, the proposed budget recommends spending levels for the next fiscal year as follows:

HUD

  • Provide $22.2 billion for housing choice vouchers, a $229 million increase from fiscal 2019.
  • Increase Project-Based Section 8 by $506 million to $12 billion.
  • Include $100 million for the Rental Assistance Demonstration program, which converts old public housing units to vouchers or Project-Based Section 8 units.
  • Eliminate the CDBG and HOME programs.
  • Terminate the Housing Trust Fund and Capital Magnet Fund.
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