The House Committee on Financial Services released its proposed Budget Views and Estimates the week of March 7. This annual document offers the Committee’s perspective on the issues within its jurisdiction for the FY12 budget resolution. The Committee will mark up its Views and Estimates on March 15, at which time the document can be amended. The Committee held its hearing on the President’s FY12 budget request on March 1 (see Memo, 3/4).
In addition to the assertion the National Housing Trust Fund is duplicative (see article above),
Views and Estimates includes a call for reforms to the tenant based rental assistance program in order to slow its cost growth relative to the overall HUD budget. In the proposed document, the Committee says that growth of the voucher program could compromise other HUD programs such as the Section 202 housing for the elderly and Section 811 housing for persons with disabilities program, and suggests that tenants should be cycled off of the Section 8 program once they have reached ‘self-sufficiency’ in order to allow households on waiting lists to receive vouchers. Growth in the cost of the project-based rental assistance program also is noted as a source of concern.
The Committee also states that the Community Development Block Grant program may be used for local concerns, rather than to address federal priorities, and that the program was designated by the Office of Management and Budget as ineffective in 2003. Views and Estimates relay that the Committee intends to further study the use of the program and whether it can be better targeted to economically distressed communities.
The Committee will hold a markup of the Views and Estimates on Matters to be Set Forth in the Concurrent Resolution on the Budget for Fiscal Year 2012 on March 15 at 10 am in the Rayburn House office building, Room 2128.
Access the Views and Estimates at http://financialservices.house.gov/media/pdf/FY2012ViewsandEstimates.pdf.