Transportation, Housing, and Urban Development, and Related Agencies Appropriations Subcommittees Release FY24 Funding
The House of Representatives and Senate Appropriations Committees have released Fiscal Year (FY) 2024 language for their respective Transportation, Housing and Urban Development, and Related Agencies (THUD) Subcommittees. The marked-up House bill proposes steep cuts to U.S. Department of Housing and Urban Development (HUD). In its current form, the legislation would provide $65.208 billion for HUD in FY24, 25% below FY23 funding including cutting the HOME Investment Partnerships Program (HOME) from its FY23 $1.5 billion level to an overall budget of $500 million.
The Senate approved its THUD bill that would maintain funding for several HUD programs including level funding of $1.5 billion for HOME. The Senate’s THUD appropriations bill would also maintain all existing rental assistance, including Project Based Rental Assistance properties, Housing Choice Vouchers and provide $3.9 billion for Homeless Assistance Grants, a $275 million increase above the FY 2023 enacted level.

