The HOME Coalition is urging lawmakers to increase funding for the HOME Investment Partnerships Program (HOME) to $1.2 billion in the Fiscal Year (FY) 2018 Transportation, Housing, and Urban Development (THUD) Appropriations bill. Congress is currently writing and negotiating the fiscal year (FY) 2018 Appropriations bills following the passage of the Bipartisan Budget Act of 2018, which raised the caps for discretionary spending. Lawmakers have an opportunity now to address the urgent need for housing resources for low-income families and communities. Read the HOME Coalition’s letter now.
For over 20 years, HOME has been one of the most effective, flexible, and locally driven tools to help states and communities address their most pressing housing challenges. Recent cuts to HOME from more than $1.8 billion in 2010 to $950 million in 2017 have only made it more difficult for America’s most vulnerable households to access a safe, decent, and affordable home.
Adequate funding for HOME is even more important this year as we anticipate HOME will be needed to provide additional gap financing in Low Income Housing Tax Credit (Housing Credit) deals impacted by the lower corporate tax rates enacted as part of tax reform and as states and localities across the country redirect their HOME funds to respond and rebuild after natural disasters.
Earlier in this appropriations cycle, over 1,500 organizations signed on the HOME Coalition’s letter supporting funding for the HOME Program in the FY 2018 Appropriations bill. ckerchof) by close of business (5 P.M. Eastern) Thursday, February 22.
If your organization has not yet signed on, you can read the letter and sign on now. In addition, please feel free to share this message with your networks. We will be sending the final version of this letter to Congress at the end of this week.
As always, the HOME Coalition is accepting aarnold) or Clay Kerchof (ckerchof).