CRS Report : Drop in FHA Receipts Impacts Other HUD Programs

Open CRS has posted a June 21, 2007 Congressional Research Service report on the HUD and Transportation bill here. The report notes a $400 Million decline in Federal Housing Administration (FHA) receipts (which by increasing the net budget authority needed by HUD, negatively impacts other HUD program funding)

"For FY2007, it was estimated that FHA would generate a net surplus of over $650 million that could offset the cost of the HUD budget; for FY2008, that amount is estimated to be about $250 million, although Congress may consider legislative proposals that could increase that amount."

CRS says that the HUD budget proposal from the Administration would provide HUD $1 Billion LESS than in FY 2007, while the Congressional budget allocation for HUD and Transportation is $3 Billion MORE than requested by the President.