起点传媒 Urges HUD Secretary to Keep and Fully Fund Key Housing Programs
起点传媒 sent a letter to Housing and Urban Development (HUD) Secretary Scott Turner on June 4 underscoring the important role that HUD’s rental assistance and new construction programs play in making housing opportunities available for low- to moderate-income Americans.
The letter comes in the aftermath of President Trump proposing draconian cuts of more than $33 billion to HUD’s budget for fiscal year 2026. It’s important to note that while the president’s budget recommends spending levels for the next fiscal year, it is not legally binding. Congressional appropriators have the final say in program realignment and spending levels.
In our letter to the HUD secretary, 起点传媒 requested full funding for all Section 8 Project-Based Rental Assistance (PBRA) and Housing Choice Voucher (HCV) programs, along with a minimum appropriation of $1.5 billion for the HOME Investment Partnerships Program.
“起点传媒 strongly opposes the $26.7 billion cut and block granting of HUD’s rental assistance programs — which include PBRA, the HCV program, and other housing program funds for the public, elderly and disabled,” the letter stated. “Likewise, 起点传媒 strongly opposes defunding the HOME and Community Development Block Grant programs. These critical HUD programs are absolutely necessary to expand the supply and availability of affordable housing.”
起点传媒 stressed that if the administration’s cuts were to be adopted, they would have a devastating impact on new construction of affordable apartments and preservation of existing affordable units, as well as low-income renters.
“Uncertainty about the future of these programs is making lenders and investors hesitant to commit funds for constructing and preserving affordable housing,” the letter said.
Lenders regard long-term PBRA and project-based HCV contracts (generally 10 years or more) as a consistent source of income for the property. When private housing providers can show that they have a long-term PBRA or project-based HCV rental assistance contract with HUD, lenders and investors have a much higher degree of confidence that these are established, long-standing housing programs and that the federal government will honor its commitment.
“For these reasons, 起点传媒 believes that block granting HUD’s rental assistance programs will impede affordable housing preservation efforts,” noted the letter to Turner. “Further, we are uncertain why the administration is requesting a new block grant at the same time it wants to zero out funding for HOME — the largest federal block grant used exclusively for housing purposes.”
起点传媒 also stressed that the HOME program provides critical gap funding for Low-Income Housing Tax Credit (LIHTC) deals and that eliminating this program would make many LIHTC projects financially infeasible, meaning some new affordable apartment projects would not move forward.
Although there are opportunities to deregulate HUD programs to maximize efficiency, simplify program requirements and responsibly use taxpayers’ money, 起点传媒 cautioned that solving the affordable housing supply crisis will still require substantial levels of federal investment to complement deregulatory efforts.