House Panel Votes to Increase HUD Funding by $6.8 Billion
The House Appropriations Committee today voted to approve $56.5 billion for the U.S. Department of Housing and Urban Development (HUD) for fiscal year 2022, an increase of $6.8 billion above the fiscal year 2021 level.
The legislation:
- Includes $29.2 billion for the Section 8 Tenant-based Rental Assistance program to continue to serve more than 2.3 million very low- and extremely low-income households nationwide.
- Provides $14 billion for the Section 8 Project-based Rental Assistance program to continue to house more than 1.2 million very low- and low-income households nationwide, an increase of $545 million above fiscal year 2021.
- Doubles funding for the Choice Neighborhoods Initiative to $400 million, an increase of $200 million above fiscal year 2021.
- Provides $3.7 billion for Community Development Block Grants, an increase of $265 million above fiscal year 2021. This also includes $1.85 billion for the HOME Investment Partnerships Program, which has helped preserve approximately 1.33 million affordable homes.
- Includes $50 million for a new down payment assistance program to help first-time, first-generation home buyers purchase a home.