NLIHC President Sheila Crowley wrote to the Director of the Office of Management and Budget (OMB), Sylvia Matthews Burwell, urging the Administration to again request funding for the National Housing Trust Fund (NHTF) in the President’s FY15 budget request to Congress. NLIHC also urged OMB to identify a specific offset to pay for funding the NHTF. Any bills that would increase mandatory expenditures must be fully offset by revenue increases or cuts in other mandatory programs.
President Obama has included funding for the NHTF in each of his budget requests to Congress, but has not identified a specific offset for the NHTF. In the December 20 letter, Ms. Crowley wrote, “NLIHC is grateful that the Administration has included mandatory funding for the National Housing Trust Fund (NHTF) in its budget request to Congress every year of the President’s tenure. We trust that this will be the case again in the FY15 budget, and further urge that the FY15 budget identify a particular offset to pay for the NHTF. One source that should be included is the statutorily required assessment on Fannie Mae and Freddie Mac that has been suspended since 2008. Now that the two GSEs are making record profits, the time has come for the suspension to be lifted, which we are hopeful the new director of FHFA will do.”
NLIHC also urged the Administration to: appropriate strong discretionary funding for HUD and USDA Rural Housing programs; ensure rent affordability; make program and budgetary changes that would result in cost savings; and, protect partnerships with private property owners and investors.
View NLIHC’s letter to OMB at: http://bit.ly/1hzwnxi