Senate Appropriators Approve Topline Funding at Concerning Levels for HUD and USDA |
At a Senate appropriations markup, the Senate Appropriations Committee approved topline funding allocations on June 22 for all 12 fiscal year (FY) 2024 appropriations bills. While the Transportation, Housing, and Urban Development (THUD) bill has a $759 million increase over the previous year, that increase will be divided between HUD and DOT programs and does not cover rising costs and lower receipts from the Federal Housing Administration (FHA) receipts. Recently, the House Appropriations Committee approved topline spending numbers for FY24 that would effectively cut next year’s federal spending to FY22 level. According to the NLIHC, this would be a 25% cut from FY23-enacted funding levels. If the Senate and House do not reach agreement on a FY24 budget by the start of the fiscal year (October 1), they must pass a Continuing Resolution or confront a government shut down.
|
On June 22, the Senate Appropriations Committee passed its version of USDA’s funding bill for fiscal year 2024. Similar to the THUD bill, the Senate has kept funding levels close to the debt ceiling agreement, and FY23 spending levels while the House has proposed more significant cuts. Of note and concern, however, the Senate bill would reduce funding for the Section 502 single family direct mortgage program, reducing funding from FY23’s level of $1.25 billion to $850; the bill would also increase the lowest possible subsidized interest rate for Section 502 direct loans to 2% from the current 1%, a significant program impact. Section 502 loans are a rural housing loan program, by which households with low and very low incomes may obtain loans for purchasing or repairing single-family homes.
|
|
|
OSAH-MN Hosts Member Retreat in Duluth |
|
|
On July 21 and 22, the Minnesota Chapter of Opportunity Starts at Home (OSAH-MN) hosted a retreat in Duluth, with members traveling from the Twin Cities, Mankato, Rochester, St Cloud, and the greater Duluth area. The retreat was hosted at Ecolibrium 3 and the American Indian Community Housing Organization (AICHO), with members learning about the work of both organizations. We were also joined by Orion DeFranco, of the Office of Senator Tina Smith, and Gammachis Bokku, of the Office of Senator Amy Klobuchar, who provided insights on the Senators’ housing priorities and recommendations for OSAH-MN members on effective advocacy strategies. We were also fortunate to have a welcome to the city from Duluth City Council President Janet Kennedy, and a visit from Duluth Public Schools Superintendent John Magas.
|
Opportunity Starts at Home, Minnesota Chapter members |
|
|
|
