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Obama Administration Releases Sequestration Impact Estimates

 

The Office of Management and Budget submitted a report to Congress on September 14 on their estimates of how sequestration will affect federal programs. OMB estimates that the US Department of Housing and Urban Development and USDA Rural Housing Service programs will be cut by 8.2%.
 

  • The numbers in the OMB report indicate that:
  • The Public Housing Operating Fund will be cut by $325 million
  • Tenant Based Rental Assistance will be cut by $1.5 billion
  • Project-based Rental Assistance will be cut by $772 million
  • The Community Development Fund will be cut by $279 million
  • Homeless Assistance Grants will be cut by $156 million

Based on the numbers in the report HUD estimates:

  • More than 250,000 households would lose their vouchers
  • 100,000 households housed through Homeless Assistance Grants would no longer have homes
  • 80,000 homeowners would not receive housing counseling services
  • HUD would lose 53,000 jobs.

For the full report, click here

Click here
to read further analysis offered by the National Low Income Housing Coalition.

 

 
 

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