Slashes in Trump's Housing Budget Set to Stymie Jobs, New Home Owners and Tax Revenue
---NNA Calls for a Re-Think from The Administration---
WASHINGTON, March, 16, 2017 /PRNewswire-USNewswire/ -- Today, the Trump Administration released its proposed "skinny" budget outlining top line spending levels for domestic discretionary programs, which will negatively affect housing and community development work across the country. Included in the budget outline were several programs proposed for elimination, including the Neighborhood Reinvestment Corporation, or "NeighborWorks America". NeighborWorks America helps support a network of 245 community-based non-profits creating opportunities for families, veterans, seniors in all 50 states, Washington, DC and Puerto Rico.
Without this program, communities in rural and suburban America, and neighborhoods in urban cities would lose the critical investment that brings the private sector to the table to create housing and opportunity. Last year alone, the NeighborWorks Network leverage the program's annual appropriation 91:1, generating over $7 billion of direct investment to communities across the country. That investment led to 21,000 new homeowners, 55,000 homes repaired and over 360,000 families helped with affordable housing. Also, because of the appropriation, almost 35,000 jobs were created and $740 million of new taxes generated.
NNA Executive Director Dave Brown states, "This would be a big hit to Americans trying to achieve the American Dream. Home is the cornerstone to improving one's circumstances and potential in life, and it should be supported by our policymakers. The Neighborhood Reinvestment Corporation provides the much-needed and highly-leveraged investment to communities across the country that improve everyone's life - whether the single-mom paying her rent, to the new millennial homeowner, or the disabled veteran who needs an accessible home - all these things stop if this program goes away. This is one of the best programs out there for improving communities, any community."
NNA strongly urges the Administration and Congress to support this critical program bringing opportunity and public-private investment to every corner of America.
Public opinion also agrees more needs to be done by elected officials. Nearly two-third of adults, 63%, said they believe actions can be taken to solve the housing affordability problems. In addition, a significant majority across the political spectrum believes it is very or fairly important for elected leaders to do so, according to a 2016 How Housing Matters survey by the MacArthur Foundation and Hart Research Associates.
About The National NeighborWorks Association
The National NeighborWorks Association unites housing and community development practitioners to advocate for affordable housing and economic opportunities for individuals, families, communities and neighborhoods throughout the United States.
SOURCE National NeighborWorks Association
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