HUD BUDGET CUTS PROPOSED

The Trump administration’s preliminary budget documents for the Department of Housing and Urban Development contain over $6 billion in proposed budget cuts. Under this plan, the department’s budget would shrink by 14%, to $40.5 billion, in fiscal 2018, which begins this October.

While the new budget maintains funding to rental assistance programs, major building maintenance funds would be cut by $1.3 billion, and the Community Development Block Grant Program, which is budgeted to receive $3 billion this year, would be cut entirely.

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Source: Multi-Family Executive, Washington Post