Highly successful public-private partnerships would be eliminated
WASHINGTON—Today the Trump administration released a budget proposal for FY 2019 that cuts more than $8 billion from programs that invest in the American Home, while doing nothing to address historic increases in the national debt, already more than $20 trillion. If enacted by Congress, these cuts would harm millions of American renters and homeowners while undercutting years of successful redevelopment of American communities of all sizes.
“The best thing one can say about this budget is that it is dead on arrival,” said David M. Dworkin, president and CEO of the National Housing Conference, a nonpartisan affordable housing advocacy organization. “This budget is bad policy and bad politics. It undermines years of public-private investments in housing and community development that have had broad bipartisan support, like the CDFI Fund and block grant funding for neighborhood redevelopment. It even cuts the Capital Magnet Fund and National Housing Trust Fund, which aren’t even paid for by taxpayers,” Dworkin said.
The president also released his infrastructure plan, which includes no mention of additional funding or support to meet the growing need for rental and homeownership housing in the United States.
“Members of Congress from both parties reached an historic agreement to reinvest in our domestic security as well as our national security,” said Dworkin. “As congressional appropriators go about the work of funding the bipartisan budget agreement, it is essential that they invest in housing and community development programs with a proven track record of success. NHC and its members stand ready to work with members of Congress from both parties to ensure America’s hard-earned tax dollars invest in our American Home.”
About NHC: Everyone in America should have equal opportunity to live in a quality, affordable home in a thriving community. The National Housing Conference has been defending our American Home since 1931. NHC is a nonpartisan, 501(c)3 nonprofit organization that educates decision makers and the public about housing policies and practices that invest in affordable housing and healthy, vibrant communities. NHC convenes and collaborates with our diverse membership of housing stakeholders including tenant advocates, mortgage bankers, nonprofit and for-profit home builders, property managers, policy practitioners, real estate professionals, equity investors and more to advance our policy, research and communications initiatives to effect positive change at the federal, state and local levels.