Thursday, April 19, 2012

HUD Is On Romney Campaign’s Chopping Block

Putative Republican presidential nominee Mitt Romney wants to eliminate the Department of Housing and Urban Development. He said so at a fundraiser recently where the remark was heard by several reporters in attendance. Housing Secretary Shaun Donovan was at the Capitol last month pleading with Congress to beef up finding for low income housing construction to keep up with the needs of the struggling American economy in this time of high and prolonged unemployment, with 4.6 million poor families receiving housing subsidies, and another 14.3 million in need of subsidies but not getting any.

Housing aid recipients now pay rents of $25 to $50 per month out of their own meager incomes, and even the Obama administration expects to have to raise that to $75 next year in order to work within HUD’s budget. Dismantling HUD will not only hurt subsidized renters and those living in public housing, but also continue downward pressure on an already struggling housing construction sector of the economy. 
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