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New Research Indicates Both Spending Bills Underfund Vouchers

While the Senate’s spending bill for FY24 includes significantly more funding for housing programs than the House bill, new research from the Center on Budget and Policy Priorities indicates that it may not be enough to fund all existing Housing Choice Vouchers. The House’s budget proposal is alarmingly inadequate in that roughly 40,000 fewer vouchers would be available to families in need of rental assistance. Despite initial reports that the funding in the Senate proposal would be adequate, these new findings show that we would lose 6,000 vouchers under this proposal as well. Rising rental costs necessitate additional funding each year, and although the Senate’s proposal is an improvement, it falls short of the Biden Administration’s budget request. The final federal budget will need more funding than what is in either proposal if we want to avoid cuts to the number of households who receive this crucial housing assistance. Housing Choice Vouchers are already significantly underfunded in that we only have enough vouchers for one in every five eligible Virginia households. The consequences of this funding shortfall are clear: more people will face housing insecurity, eviction, and homelessness.

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