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Senate Banking Committee Members Ask President for Funding for NHTF, Other Housing Programs

As the President’s budget request is being finalized (see related article elsewhere in Memo), eight Democratic members of the Senate Committee on Banking, Housing and Urban Affairs sent a letter to the President calling for his “full support for a robust budget for housing and community development programs,” including the National Housing Trust Fund (NHTF). In the January 22 letter, the Senators, led by Committee Chairman Christopher Dodd (CT), stress the importance of subsidized housing both in the current economic downturn and in the long term. “Millions of Americans faced unmet housing needs prior to the current economic crisis because the market does not provide sufficient housing affordable to low-wage workers and those on fixed incomes,” the letter states. 

The Senators urge the President to capitalize the National Housing Trust Fund, saying the program will “create and preserve affordable rental housing for the lowest income families.” The letter calls for $1 billion for the NHTF and for vouchers to accompany these capital funds to “ensure long term affordability” for low income tenants.

In addition to Chairman Dodd, the letter was signed by Senators Daniel Akaka (D-HI), Tim Johnson (D-SD), Robert Menendez (D-NJ), Jeff Merkley (D-OR), Jack Reed (D-RI), Charles Schumer (D-NY), and Jon Tester (D-MT).

View the letter at: http://www.nlihc.org/doc/Letter-to-Obama-FY-2011.pdf