Donald Trump’s proposed budget for the Department of Housing and Urban Development brought doom and gloom for certain facets of the housing industry — particularly public housing. The Trump administration’s plan would slash $6.2 billion from the department’s budget, following through on a budget blueprint issued in March, with the deepest cuts coming to federal housing subsidies.
The Community Development Block Grant and the HOME Investment Partnership Program, which provide funding for a wide variety of low-income housing initiatives on the state and local levels, would be cut under the President’s plan.
As expected the democratic party-line holders wasted no time to blast the plan. Rep. Maxine Waters, (CA Dem) who serves as ranking member of the House Financial Services Committee, responded to the budget news with a stinging rebuke by saying, “Donald Trump has once again revealed who he really is, with a cruel and senseless budget that abandons Main Street and the vulnerable.
“The Trump budget would also punitively raise rents and increase financial instability for the most vulnerable in this country and make it much more difficult for families to make ends meet, including by making it more difficult to pay for rent and basic utilities.”
Although trump’s Republican support seems to be dwindling, Rep. Jeb Hensarling (TX Rep) who chairs the committee, lauded the cuts to the overall budget, framing the plan as a cure for “Obamanomics.”
“For the first time in almost a decade, a president has proposed a budget that puts us on a path to fiscal sanity,” Hensarling said. “This budget is a sober document, and I’m pleased President Trump’s proposal takes a long overdue look at redefining the proper role of the federal government.”