What's Eliminated in Trump's 2020 Budget Plan

March 22, 2019                                By: Donna Kimura

HOME, CDBG, Housing Trust Fund, and other key housing programs are proposed to be cut.

The Trump administration is once again proposing to eliminate or reduce key housing programs in its fiscal 2020 budget proposal.

The approximately $44.1 billion spending plan for the Department of Housing and Urban Development (HUD) is about $9.6 billion, or 18%, below the fiscal 2019 enacted level.

Here are 10 key takeaways:

· The HOME Investment Partnerships program would be eliminated. No funding is proposed for HOME, which received $1.25 billion in fiscal 2019;

· The Community Development Block Grant program would be eliminated. No funding is proposed for the grants, which received $3.3 billion in the final 2019 budget;

· The National Housing Trust Fund, which was authorized by the Housing and Economic Recovery Act of 2008, would be eliminated. The president’s budget seeks to eliminate the assessments on Fannie Mae and Freddie Mac that support the Housing Trust Fund. HUD anticipates receiving approximately $245 million from the calendar year 2018 collection, which will be distributed to the states in fiscal 2019;..........................Read More