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House Financial Services committee to Examine Budget For Housing Agencies

Wednesday, March 5, 2003 - 1:45AM

In a hearing today, the House Financial Services Committee, chaired by Rep. Michael G. Oxley (R-Ohio), will examine the Bush Administration’s fiscal year 2004 budget for U.S. housing agencies. The Committee will examine budget proposals for the Department of Housing and Urban Development (HUD), the Department of Agriculture’s Rural Housing Service (RHS), the Neighborhood Reinvestment Corporation and the National Flood Insurance Program. The administration proposed a $31.3 billion budget for HUD in 2004, which includes several reform measures such as converting Section 8 tenant-based housing vouchers to state-managed block grants, the creation of a Federal Housing Administration mortgage insurance product for sub-prime mortgage markets and the elimination of the HOPE VI public housing program, among others. Click here to read a related discussion on the fiscal year 2004 budget in the March Washington Wire

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