Olver Faults HUD Budget Request For Failing to Help Public Housing; Cabrera Defends Funding Plan

摘要

House HUD appropriations subcommittee chairman John W. Olver (D-Mass.) criticized HUD's fiscal 2008 budget request at a March 13 hearing, asserting that it underfunds the public housing operating formula and fails to provide enough money to catch up with the backlog of modernization needs. The sole witness at the hearing, Orlando Cabrera, HUD assistant secretary for public and Indian housing, defended the budget request, saying that the $4 billion for the operating fund would be the largest amount ever for this purpose and that a large share of the $2 billion in public housing capital funds will be combined with low-income housing tax credits, private activity bonds, and other sources in the HUD capital fund financing program.