On July 20, the Senate Appropriations Committee held a markup and approved its Transportation, Housing and Urban Development, and Related Agencies (THUD) fiscal year (FY) 2024 funding proposal. The measure would provide $98.931 billion for agencies under its jurisdiction, including $70.6 billion for HUD, $1.8 billion above the House proposal and $9.8 billion above the FY 23 enacted budget. 

The Senate provided a bipartisan proposal that makes minimal cuts and level funding or increases for many of Enterprise's Policy Priorities. Specifically, the HOME Investment Partnerships Program was spared from the significant cuts proposed in the House and received level funding compared to FY 23 at $1.5 billion. Other important programs such as the Community Development Block Grant and the Section 4 Capacity Building Program also received level funding at $3.3 billion and $42 million, respectively. Several key programs received increases, including the Native American Housing Block Grant, which received a $61 million (6%) increase at $1.1 billion, and the Housing Choice Voucher (HCV) program, which received a $1.4 billion (5%) increase at $31.7 billion. The amounts for the HCV program would cover all renewals and will also provide 4,000 new incremental vouchers for youth aging out of foster care and veterans at risk of or experiencing homelessness, according to the bill summary. 
 
Congress should enact legislation that provides strong funding for affordable housing and community development programs to meet the urgent need we’re seeing across the county.