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2018 Federal Budget Proposal Shows Significant HUD and EPA Reductions

May 23, 2017

On May 23, the 2018 Budget Proposal was released by the Trump Administration. Unfortunately, several U.S. Department of Housing and Urban Development (HUD) programs and the Environmental Protection Agency’s Energy Star program were among the 66 programs eliminated.

The proposed budget allocates HUD $40.68 billion in gross discretionary funding. This represents an $8.22 billion decrease from the 2017 budget. Despite this decrease, the Department said it is committed to continuing to support the 4.5 million households receiving assistance. For more information, HUD has published a press release detailing the proposed changes.

Of all federal agencies, the EPA saw the largest percentage of their budget cut. The Trump administration has proposed reducing EPA funding from $8.2 billion to $5.7 billion – a 31% decrease. As part of these proposed cuts, the voluntary ENERGY STAR program would be eliminated completely. As a strong supporting of the ENERGY STAR program, IREM joined a coalition of industry stakeholders in a letter urging Congress to continue funding ENERGY STAR. More information, along with the coalition letter, can be found in our April 5th Top Legislative News article.

For over two decades, IREM’s Federal Housing Advisory Board (FHAB) has been traveling to Washington, D.C. to meet with various government agencies, such as HUD and the Rural Housing Service (RHS). During these meetings, members of IREM meet with officials to discuss the impact of policy on the real estate industry. These meetings have been crucial in opening lines of communication to ensure IREM’s seat at the table when new regulations and guidance are being written. In the coming months, the FHAB will once again travel to D.C. to create new relationships with the new administration, as well as strengthen existing ones.

In the meantime, all members must continue reaching out to their federal legislators to advocate for the continued funding of rental assistance programs. For more information, please visit the IREM Congressional In-District Visit page.