Effects of Sequestration
Thu April 18, 2013
The Future of Public Housing
The Chair of the Virginia Housing Commission says the future of public housing will be the panel’s primary focus for this year, as thousands of the Commonwealth’s children, families, and veterans could be homeless within months—as a result of sequestration.
U.S. Department of Housing and Urban Development Deputy Secretary Maurice Jones says federal sequestration has resulted in 5% reductions in nearly all of HUD's programs—and that translates to the non-renewal of homeless assistance grants and vouchers to more than 125,000 individuals:
Jones says HUD is already reviewing some cost-saving measures, such as modernizing existing dwellings to make them more energy-efficient and demolishing some buildings in severely distressed areas.
Sequestration Issue Looms
Economics & Economy