CARH Broadcast Email - Budget Update
CARH’S BROADCAST EMAIL – Budget Update
March 12, 2019
Trump Administration Unveils Fiscal Year 2020 Budget Proposal
On March 11, the Trump Administration formally unveiled its proposed $4.7 trillion Fiscal Year (FY) 2020 budget proposal. This document is more conceptual than an actual budget proposal. The Office of Management and Budget (OMB) is expected to release a more detailed budget document which will provide specific numbers, as well as proposed changes to programs sometime next week. However, given the proposed funding levels, we can assume that, like the last two proposed Administration budgets most, if not all, of the housing programs that have a budget score would be eliminated. The exception would be the Department of Agriculture’s (USDA) Section 521 program and the Department of Housing and Urban Development’s (HUD) Rental Assistance programs. In addition, any guaranteed programs such as USDA’s Section 538 program that rely on fees, would remain.
Although we do not yet have the full details regarding the proposed budgets, we have tentatively updated the funding charts for both USDA and HUD with the figures that were provided.
Once OMB releases the details of the proposed budget, CARH will provide members with specifics of the proposals for the relevant housing programs in both USDA’s Rural Development (RD) and HUD. In the meantime, USDA Secretary Purdue issued a statement on the proposed budget, and HUD issued a press release on their proposed budget.
If you have any questions, please contact CARH at email@example.com or 703-837-9001.