The U.S. Department Housing and Urban Development (HUD) this week unveiled their proposed budget for FY 2017 that includes over $11 billion in new mandatory spending as well as over $48 billion in gross discretionary funding. The budget will require Congressional support and will undoubtedly undergo many changes & twists before something is finally approved.
Some takeaways:
- $20.9 billion for the Housing Choice Voucher program
- $10.8 billion for the Project-Based Rental Assistance program, which supports 12 months of funding for rental assistance contracts with public and private owners who maintain affordable rental housing for 1.2 million families.
