The proposed 43% cut in these programs is creating enough uncertainty that some lenders are already pulling back, stalling new affordable-housing projects.
July 23, 2025

Interesting. Trump thinks throwing poor people out into the streets without housing, health care, or food won't backfire on him. He's only worried about Epstein? Via the Wall St. Journal:

The Trump administration is proposing a $27 billion reduction in federal programs that provide rental assistance to low-income individuals.

The proposed 43% cut in these programs is creating enough uncertainty that some lenders are already pulling back, stalling new affordable-housing projects.

That is the case for Jeff Fox. In June, the New York City-based real-estate developer was on pace to start construction on a senior affordable-housing facility in Queens, N.Y., by the fall.

Then New York’s housing-development department called with bad news. The July round for Section 8 housing subsidies was going to be “indefinitely postponed” because of a lack of funding from the Department of Housing and Urban Development, or HUD, this year and the prospect of President Trump’s proposed further cuts for next year.

Fox, who relies on this federal voucher program to finance his projects, said his Queens development is now on hold.

“No one knows what’s going to happen, so rather than overcommit, they’re pumping the brakes,” he said.

We know Trump doesn't give the proverbial shit about children living on the street, but he doesn't care about real estate developers? Talk about a traitor to his class.

Can you help us out?

For over 20 years we have been exposing Washington lies and untangling media deceit, but social media is limiting our ability to attract new readers. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.
Mastodon