From the HUD, Housing and Urban Development web site: “
God blessed us with this great nation, and together, we can increase self-sufficiency and empower Americans to climb the economic ladder toward a brighter future.”
– Secretary Scott Turner
The federal government never runs out of money for tax deductions for homeowners’ mortgage interest. Can you imagine if the IRS said, “No tax deductions for you; we are out of money?” Spending cuts for programs for the poor are another matter.
President Donald Trump’s administration unveiled its 2026 budget proposal, calling for $163 billion in sweeping cuts to nondefense government spending, including multiple federal housing assistance programs affecting homeowners and renters alike.
According to a 46-page discretionary spending request sent by the Office of Management and Budget to the Senate Committee on Appropriations, the Trump administration is looking to slash the budget of the Department of Housing and Urban Development by $33.6 billion in the next fiscal year.
The lion’s share of the HUD budget reduction, amounting to $26.7 million, will come from the State Rental Assistance Block grant, which provides tenant-based rental assistance, public housing, and housing for the elderly and people with disabilities.
Look for reductions and proposed reductions on any spending that helps the poor. Look for more tax cuts for the wealthy and funding cuts to programs that help the poor.
