What Could Sec. Fudge’s HFSC Oversight Hearing Signal for FY 24 HUD Negotiations?

By: Gabriel Smith, Legislative Affairs Analyst

On January 11th, the House Financial Services Committee hosted HUD Secretary Marcia Fudge for a hearing to discuss the body’s oversight of HUD and FHA. In over five hours of testimony and Q&A, Secretary Fudge fielded questions from the committee on addressing the affordable housing supply and the steps her department has taken to address the shortage. 

Republicans largely voiced their concerns and displeasure with the efficacy with which her department has responded to their concerns about the shortage and local challenges their constituents face. Republican engagement with the Secretary underscored their lack of confidence in the Biden Administration to address the shortage, while offering little to no new solutions. Democrats, many former colleagues of the Secretary, affirmed their support for her leadership and the Biden Administration and defended the COVID-19 era programs used to prevent spikes in homelessness. 

As House and Senate appropriators continue negotiations on FY 24 funding, we could see House negotiators push back on increased funding proposals from their Senate colleagues. Republicans may point to what they deem failures by the Biden Administration as justification for holding firm on lower funding levels. Democrat negotiators from the Senate are expected to advocate for funding closer to the President’s proposal, creating a wide gulf in proposed funding levels that may require significant compromises from both sides. Looking towards the new March 1st funding deadline for HUD, lawmakers must come together to reach an agreement or explore further short term funding options to avoid shutting down the government. NAHRO will continue to monitor negotiations on the Hill and provide updates as they become available. 

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