Trump FY 2018 Budget Request Cuts HUD by $6.2 Billion

Thursday, March 16, 2017 - 9:45AM

The Trump administration today released its fiscal year (FY) 2018 budget request blueprint. The document, titled “America First: A Budget Blueprint to Make America Great Again,” requests $1.1 trillion in discretionary spending and would cut funding for the U.S. Department of Housing and Urban Development (HUD) by $6.2 billion to $40.7 billion. This is a 13.2 percent reduction from the annualized funding levels based on the FY 2017 continuing resolution. Among the programs the blueprint calls for eliminating are the Community Development Block Grant (CDBG), HOME Investment Partnership (HOME) programs and the Choice Neighborhoods Initiative. The Trump administration also proposes cutting the Treasury budget by $519 million (4.1 percent) to $12.1 billion, eliminating the Community Development Financial Institutions (CDFI) Fund’s discretionary grant programs and leaving only administrative funding to oversee the new markets tax credit (NMTC) and other non-discretionary grant programs. The Trump administration is expected to release a detailed budget request in May.

Read more about the budget request on the Notes from Novogradac blog.

Learn more about Novogradac's expertise and many services