Article Summary –
Vice President Kamala Harris announced the Biden administration will provide $5.5 billion in funding for housing-related projects across the United States. The funds will be used to expand affordable housing, address homelessness, support people with HIV/AIDS needing housing, and provide housing for people recovering from substance abuse. The funding will also build more affordable homes, support renters and homeowners, lower costs, build wealth, and create jobs.
Vice President Kamala Harris Announces $5.5 Billion Housing Funding
On May 8, Vice President Kamala Harris declared a $5.5 billion budget for US housing projects from the Department of Housing and Urban Development. The funding aims to increase affordable housing, fight homelessness, assist people with HIV/AIDS requiring housing, and provide housing for substance abuse recovery individuals.
Impact of Funding on Communities and Housing
Harris conveyed that the funding will construct more affordable homes, aid renters and homeowners, reduce costs, foster wealth, and generate jobs. Michigan will receive $118 million in Community Development Block Grants, intended to create housing and economic opportunities, especially for those with lower incomes. In 2023, these programs benefited 62,000 families nationwide, according to HUD.
Funding Allocation Details
The HUD will distribute $36 million to secure affordable rental housing for low-income families, $10 million for homeless shelters, $4 million to increase the affordable housing supply via the Housing Trust Fund, and $7 million for the housing and support of people with HIV/AIDS.
Funding in Line with Biden’s Housing Vision
This initiative aligns with Biden’s March State of the Union address, where he urged Congress to approve legislation for constructing at least two million new homes, assisting first-time homebuyers, and reducing rental costs.
Comparison to Previous Administration’s Housing Policies
Contrastingly, former President Donald Trump suggested cuts to HUD and low-income family rental assistance programs. Trump also reversed an Obama-era rule mandating nondiscriminatory practices for federal assistance recipients in housing. This decision was announced on Twitter in July 2020. However, contrary to his expectations, FBI data reveals a rise in murders during Trump’s presidency, followed by a decline in 2022 and 2023.
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