Center on Budget and Policy Priorities analysis of 2013 budget request

President Obama’s fiscal year 2013 budget request for HUD is at least $1.7 billion below the amount needed to fully renew rental assistance under the department’s three major housing programs, according to the Center on Budget and Policy Priorities (CBPP). The report says that the proposed renewal funding for Housing Choice Vouchers could be as much as $440 million short of the amount needed to renew all vouchers in use in 2012; the public housing funding request would not be enough to cover agencies’ operating and new capital repair expenses in 2013; and the budget’s project-based Section 8 funding is inadequate to provide a full 12 months of funding for all contracts. The report recommended that Congress increase renewal funding and modify or reject several of the HUD budget’s cost-saving proposals. View the full report and accompanying webinar, or follow CBPP’s on-going budget analysis.

Novogradac

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