President George W. Bush's Fedreal Budget Request Proposes $28.5 billion in funding for HUD in 2006
In his federal budget request released today, President George W. Bush proposes $28.5 billion in funding for the U.S. Department of Housing and Urban Development (HUD) in 2006 – a cut of 11 percent from 2005. The budget request includes several proposals for reform of major programs, including modifying the Housing Choice Voucher program. In addition, Bush proposes $3.7 billion for a new economic and community development program within the Department of Commerce. The Strengthening America's Communities Grant Program would consolidate 18 programs that have been dubbed “ineffective or duplicative” by the White House Office of Management and Budget's (OMB) Program Assessment Rating Tool (PART) - programs such as Community Development Block Grants - into a single, unified grant program. Also, the budget again proposes a Single Family Homeownership Tax Credit for developers of affordable for-sale housing.