House Subcommittee Votes to Eliminate National Housing Trust Fund

The Capital Markets and Government Sponsored Enterprises Subcommittee of the House Financial Services Committee voted 18 to 14 to approve H.R. 2441, a bill sponsored by Rep. Edward Royce (R-CA) to eliminate the National Housing Trust Fund (NHTF). The NHTF was created in 2008 to provide communities with funds to build, preserve, and rehabilitate rental housing for people with the lowest incomes, such as SSI and SSDI beneficiaries. For FY 2012, the President’s budget requests $1 billion to start up the NHTF. The Arc supports the NHTF to address the housing crisis for people with disabilities. In 2010, the average rent for a one-bedroom apartment was $785 per month – far higher than $703, the average monthly SSI income.  To move forward, H.R. 2441 must next be approved by the full House Financial Services Committee. There is no related legislation in the Senate.

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