Statement by HUD Secretary Fudge on the President’s Fiscal Year 2022 Budget

Statement by HUD Secretary Fudge on the President's Fiscal Year 2022 Budget

Budget Proposes Transformational Investments to Strengthen and Expand Housing Assistance, Advance Housing Equity, Increase Production of and Access to Affordable Housing, and Promote Climate Resilience, Environmental Justice, and Energy Efficiency

The Biden-Harris Administration today submitted to Congress the President's Budget for fiscal year 2022. As the Administration continues to make progress defeating the pandemic and getting our economy back on track, the Budget makes historic investments that will help the country build back better and lay the foundation for shared growth and prosperity for decades to come.

'With the FY22 Budget, we are turning the page on decades of disinvestment and disregard for our nation's housing crisis and putting housing where it belongs - at the center of our efforts to build a stronger, more equitable America,' said Housing and Urban Development (HUD) Secretary Marcia L. Fudge. 'The Budget sends a clear signal that HUD is no longer going to be left on the sidelines while millions of Americans struggle with housing and remain shut out from the opportunities a good home provides. The FY22 Budget transforms and empowers HUD to lay the foundation for stronger, more equitable housing infrastructure, to help communities thrive, and to give every person a fair shot to get ahead.'

The Budget includes the two historic plans the President has already put forward - the American Jobs Plan and the American Families Plan - and reinvests in housing, education, research, public health, and other foundations of our country's strength. At HUD, the Budget would:

• Strengthen and Expand Housing Assistance. To increase access to affordable housing and provide greater opportunities for economic independence to families and individuals experiencing or at risk of homelessness, the Budget proposes a historic investment of $30.4 billion for the Housing Choice Voucher Program to expand assistance to an additional 200,000 households. The Budget also proposes $3.5 billion for Homeless Assistance Grants to provide housing and supportive services to individuals and families experiencing homelessness.
• Advance Housing Equity. The Budget makes investments in key areas to bring an end to discrimination in housing and eliminate patterns of racial and ethnic segregation and economic disparities in communities, while proactively advancing equity for historically underserved communities. These investments include $3.8 billion for the Community Development Block Grant (CDBG) program, including a $295 million increase targeted at historically-underserved communities and neighborhoods; $723 million for the Indian Housing Block Grant (IHBG) Program for affordable housing in Tribal communities; and $85 million for Fair Housing programs, and increased HUD staff capacity to help root out systemic racism and discrimination from our housing market.
• Increase the Production of and Access to Affordable Housing. To lay the foundation for the major long-term investments in the American Jobs Plan, the Budget provides $1.9 billion for the HOME Investment Partnerships (HOME) Program - an increase of $500 million above the FY21 enacted level - to create affordable housing for low-income households. This request includes a $100 million set-aside for a new Homebuyer Assistance initiative that provides funding to states and insular areas to better support sustainable homeownership. The Budget also proposes a Home Equity Accelerator Loan (HEAL) Pilot that would test new loan products designed to lower barriers to homeownership for first-time, first-generation homebuyers.
• Promote Climate Resilience, Environmental Justice, and Energy Efficiency Across the Housing Sector. The Budget includes $800 million to reduce carbon pollution, increase resilience to the impact of climate change, and address environmental justice. Communities served by HUD programs, which often have a significant share of low- and moderate-income households and people of color, are often more vulnerable to climate change due to their locations, aging infrastructure, and historic disinvestment. As part of the Administration's whole-of-government approach to the climate crisis, the Budget reflects HUD's commitment to expanding energy-efficient and climate-resilient housing options in public and assisted housing.

Enacting the Budget policies into law would strengthen our Nation's economy and lay the foundation for shared prosperity, while also improving our Nation's long-term fiscal health.

For more information on the President's FY 2022 Budget, please visit: https://www.whitehouse.gov/omb/budget/.

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