2014-03-04T213852Z_1_CBREA231O4U00_RTROPTP_2_USA-INCOME-WASHINGTON

White House wants $1 billion put in affordable housing fund

A youth walks past a construction site in the quickly developing Seventh Street corridor in WashingtonBy Margaret Chadbourn WASHINGTON (Reuters) – President Barack Obama proposed spending $1 billion next year for the U.S. Department of Housing and Urban Development to fund a federal affordable housing trust fund established by Congress six years ago, according to the 2015 White House budget. The fund was originally mandated to be capitalized by government-run Fannie Mae and Freddie Mac. If given budget authority, it would be the first contribution to the National Housing Trust Fund that was set up in 2008. Over time, the White House predicted the money would provide for 16,000 affordable units using a mix of funding sources, including other public funds, tax credits and private debt.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 5 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article