WASHINGTON, DC 20410
Written Testimony of Shaun Donovan
Secretary of U.S. Department of Housing and Urban Development (HUD)Hearing before the Committee on Senate Banking, Housing and Urban Affairs
onHUD’s Fiscal Year 2012 Budget Request
Thursday, May 5th, 2011
Chairman Johnson, Ranking Member Shelby and Members of the Committee, thank you for the opportunity to testify today regarding the fiscal year 2012 Budget for the Department of Housing and Urban Development, Creating Strong, Sustainable, Inclusive Communities and Quality Affordable Homes.
I appear before you to discuss this Budget in an economic environment that is significantly improved from when the President took office. An economy that was shrinking is growing again – and instead of rapid job loss, more than a million private sector jobs were created in the last year. But we know there’s still more work to be done to ensure that America and its workers can compete and win in the 21st century. And we have to take responsibility for our deficit, by investing in what makes America stronger and cutting what doesn’t, and in some cases making reductions in programs that have been successful.
HUD’s Fiscal Year 2012 budget tackles these challenges head on: by helping responsible families at risk of losing their homes and by providing quality affordable rental housing; by transforming neighborhoods of poverty to ensure we are not leaving a whole generation of our children behind in our poorest communities; by rebuilding the national resource that is our federally-assisted public housing stock and ensuring that its tenants are part of the mobile, skilled workforce our new global economy requires, and by leveraging private sector investments in communities to create jobs and generate the economic growth we need to out-innovate, out-educate and out-build the rest of the world.
This budget also reflects the need to ensure that we are taking responsibility for our country’s deficits. As a down payment toward reducing the deficit, the President has proposed a freeze on non-security discretionary spending for the next five years, cutting the deficit by $400 billion over 10 years and bringing this spending to the lowest share of the economy since President Eisenhower. Every department shares a responsibility to make tough cuts so there’s room for investments to speed economic growth. HUD’s fiscal year 2012 budget includes $47.8 billion in gross budget authority, offset by $6 billion in projected FHA and Ginnie Mae receipts credited to HUD’s appropriations accounts, leaving net budget authority of $41.7 billion, or 2.8% below the fiscal year 2010 actual level of $42.9 billion.1 To maintain this commitment to fiscal discipline, we have protected existing residents and made the difficult choice to reduce funding for new units and projects, including cuts to the Community Development Block Grant, HOME Investment Partnerships, and new construction components of the Supportive Housing Programs for the Elderly (Section 202) and Disabled (Section 811).
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|Address:||6173 DANA CT LITHONIA, GA 30058|
|Period Deadline:||8/11/2011 11:59:59 PM CST|
|FHA Financing:||IE (Insured Escrow)|
|Review PCR for Repair Escrow Items|