Donovan: Sequestration could devastate Fed housing programs

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One of those programs that has been instrumental in the housing recovery is the government’s insurer of home mortgages, the Federal Housing Administration. drivers of the housing recovery..

In last year’s across-the-board $1 trillion federal spending cuts, known as sequestration. could do more with existing funds if there were more flexibility in our federal housing programs. That is.

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Donovan: Sequestration could devastate Fed housing programs On April 2, HUD Secretary Shaun Donovan testified at a House Transportation-HUD Subcommittee oversight hearing on HUD’s Office of Public and indian housing programs. In his opening statement, Subcommittee Chairman Tom Latham (R-IA) commented that over the years, funding needs for.

The more crucial question of whether to avert the devastating sequestration of federal funds and if so, how, remains unanswered. Continuing to loom over us all are the automatic cuts to discretionary spending called for in the budget control act of 2011 that could still devastate affordable housing and homelessness prevention programs in the.

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The Budget includes $20 billion for the Housing Choice Voucher program to help more than 2.2 million low-income families afford decent housing in neighborhoods of their choice. This funding level supports all existing vouchers and fully restores the sequestration funding.

U.S. Senator Frank Lautenberg serves on the Senate Committee on Appropriations, which will hold an important hearing this Thursday, February 14 on sequestration and its impact.. Please contact Senator Lautenberg today and urge him to use the hearing as an opportunity to show how these cuts would be devastating to affordable housing programs for low-income individuals and families in your state.

Sequestration In January Would Devastate Job Creation And Wreak Havoc In Health Care, Manufacturing, And Other Domestic Sectors. there are serious concerns that the economic effects of cuts to non-defense programs could be worse than cuts to Pentagon spending.

On April 2, HUD Secretary Shaun Donovan testified at a House Transportation-HUD Subcommittee oversight hearing on HUD’s Office of Public and Indian Housing programs. In his opening statement, Subcommittee Chairman Tom Latham (R-IA) commented that over the years, funding needs for renewals have steadily crowded out funding for other priority programs.