President Biden to Unveil FY24 Budget Request This Week

President Biden is expected to unveil a topline summary of his fiscal year (FY) 2024 budget request on Thursday, March 9, with more details to follow during the week of March 13. NLIHC will share an in-depth analysis of the request once the full proposal is released.

The president’s budget request officially kicks off the legislative process to enact a spending bill. Once the president’s proposal is released, the U.S. House of Representatives and Senate are expected to hold hearings on spending priorities and draft their versions of spending bills.

House Republicans have called for deep budget cuts to domestic programs. Many Republicans have advocated for cutting funding in FY24 to spending levels from FY22 in exchange for raising the debt ceiling. However, Speaker of the House Kevin McCarthy has also pledged not to cut defense spending, or funding for Medicare and Social Security, leaving non-defense discretionary spending – including funding for vital affordable housing and homelessness programs – squarely on the chopping block. A recent analysis from the Center on Budget and Policy Priorities (CBPP) estimates that capping spending at FY22 levels could result in an average cut of 24% across non-defense programs, depending on which programs are prioritized. House Republicans are expected to release a topline preview of proposed budget cuts in April.

Take Action!

It is unacceptable to balance the federal budget by demanding cuts to programs that help the lowest-income households survive. There is a national shortage of approximately 7 million affordable, available homes for people with the lowest incomes, and only one in four households who qualify for federal housing assistance receives the help it needs. Without adequate funding for vital federal affordable housing and homeless assistance programs, households with the lowest incomes will continue to live precariously, only one missed paycheck or unexpected emergency away from housing instability, eviction, and, in the worst cases, homelessness.

  • Sign your organization on to the Campaign for Housing and Community Development Funding’s (CHCDF) annual budget letter, calling on Congress to reject spending cuts and instead provide the highest possible allocation for HUD’s and USDA’s affordable housing, homelessness, and community development programs in FY24.
  • Email your members of Congress today and urge them to increase – not cut – resources for affordable housing and homelessness in FY24 and to support NLIHC’s top appropriations priorities:
    • Full funding for the TBRA program to renew existing vouchers and to expand the program to an additional 200,000 households.
    • Full funding for public housing operations and repairs.
    • Full funding for HUD’s Homeless Assistance Grants program.
    • $100 million for legal assistance to prevent evictions.
    • $3 billion for a permanent Emergency Rental Assistance program.
    • Increased funding for the competitive tribal housing grants, targeted to tribes with the greatest needs.
  • Check out NLIHC’s advocacy toolkit, “Oppose Dramatic Cuts to Federal Investments in Affordable Housing,” for talking points, sample social media messages, and more!