Democrats are considering cutting housing funding in President Joe Biden's massive social spending plan to $100 billion, roughly a third of the initial amount proposed as they try to lower the cost of the bill, congressional aides said.
House Financial Services Chair Maxine Waters — whose committee last month signed off on more than $300 billion in housing aid — said Wednesday that she opposed "deep cuts in housing." Waters said that she and Senate Banking Chair Sherrod Brown — who also helped craft the proposal — “are not simply going to go along to get along" when it comes to scaling back the funds.
The housing cuts are likely to disappoint a large swath of Democrats. This week, 125 House Democrats signed a letter to House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer urging them to keep $90 billion for rental assistance, $80 billion for public housing repairs and $37 billion for the National Housing Trust Fund in the final version of the bill.
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