November 5, 2012 – (RealEstateRama) — After the November 6 elections, Congress will reconvene for a “Lame Duck” session to tackle some very difficult issues related to the federal budget. As things stand now, significant, across-the-board cuts known as “sequestration” will go into effect on January 1, 2013, on all “discretionary” spending, including housing, homelessness and community development programs that many Housing Alliance members rely on to address the most pressing housing needs in our communities.
Congress could decide to be more surgical in making cuts, increase revenue and avoid the automatic 10% reductions if it takes action before the end of 2012.
Cindy Daley, Housing Alliance policy director provides us with an overview of what’s on the table, the impact and what we can do to make sure that we continue to have the economic power of housing in our communities. Click here to read After the Election: What the DC Budget Debate Means for Housing Opportunity for Pennsylvania’s Most Vulnerable Citizens, to learn more about the budget debate and its implications for the most vulnerable people in our communities and those of us trying to make sure they have homes within their reach.
We also encourage you to join CBPP’s webinar, “What Do the Budget Control Act, Sequestration and the Fiscal Cliff Mean for Housing and Community Development?” on Friday, November 9 from 1:00 to 2:00. Click here to register.