The U.S. House of Representatives Committee on the Budget, under the leadership of Chair Jodey Arrington (R-TX), voted to adopt a budget resolution for fiscal year (FY) 2024 that outlines drastic spending cuts to domestic programs. Because the resolution is nonbinding, it does not have an impact on the FY24 appropriations process or the funding ultimately allocated to federal programs. Rather, the budget resolution serves as a messaging vehicle for Republicans in the House to showcase the ways they would spend money and raise revenues and provides a potential blueprint for future funding legislation.
The proposed plan reflects the demands of conservative members of the party, including capping FY24 spending at FY22 levels – which would result in a $131 billion, or 8%, cut from levels enacted in the current fiscal year – and allowing discretionary spending to increase only by a paltry 1% per year through FY33. Depending on how cuts were made, the proposal could have an extremely destructive impact on HUD’s affordable housing and homelessness programs (see Memo, 6/20). It should be emphasized, however, that this resolution does not have the power of law and will have no practical effect on the FY24 process.
View more information about the budget resolution here.