The House Committee on Appropriations yesterday approved fiscal year 2024 (FY24) funding allocations well below fiscal year 2022 (FY22) allocations for most subcommittees—a move that set funding at levels lower than those agreed to as part of the recent debt ceiling deal, and also below the drastic cuts previewed by  Appropriations Chair Kay Granger  earlier in the week.

For the Subcommittee on Transportation and Housing and Urban Development (THUD), the FY24 allocation of $65.2 billion is 26% below the FY22 THUD Subcommittee allocation of $88.6 billion. At such funding levels, it is unclear if the House THUD Subcommittee can develop a bill that will garner the votes necessary to pass the House. 

The vast majority of annual HUD funding pays for existing housing subsidies; a bill written to comply with the $65.2 billion allocation would almost certainly result in housing subsidy contract cuts. 

LeadingAge president and CEO Katie Smith Sloan said in a June 14 press statement: “House Committee on Appropriations Chair Kay Granger’s announced intention to limit overall spending …will drastically reduce funding for the House’s Department of Housing and Urban Development’s (HUD) appropriations bill – a move that will be devastating for older adults, especially those waiting for a home in affordable housing. The debt ceiling deal’s two years of spending caps were already terrible for the older adults, but this new, even more outrageous step would be catastrophic.”

We urge aging services stakeholders to continue to respond to our new action alert to protect and expand affordable senior housing funding.

For a chronological summary of past LeadingAge updates on this topic, see the serial post, Fiscal Year 2024 HUD Funding.