The Time is NOW: Defend Housing, Small Business, and Community Economic Development Funds

THIS WEEK, the U.S. House of Representatives is considering deep cuts to the two most important funding bills to the NALCAB Network - Transportation-Housing & Urban Development (T-HUD) (H.R. 4820), and Financial Services & General Government (FSGG) (H.R. 4664) - these two funding bills encompass 90% of the resources that support our organizations' work in strengthening Latino communities.  

If these bills pass, as drafted, it will result a drastic drop in resources available to help our organizations uplift Latino communities by increasing affordable housing, supporting minority entrepreneurship, and boosting equitable economic development. Some examples include;

NALCAB’s number one member utilized program – the Community Development Block Grant (CDBG) could be cut by 50%. This means less support for community–based activities that support low- and moderate-income people. 

The Home Investments Partnership Program (HOME) may be cut by 66% - this would prevent our organizations from being able to quickly respond to local housing needs where supply is scarce, and rehabilitation is urgently needed. 

Also, the Community Development Financial Institutions (CDFI) Fund faces the threat of being completely defunded - these cuts would stifle the growth of the CDFI industry during a time of rising interest rates when grant dollars are needed more than ever. 

These bills are on the House floor this week and members of Congress need to hear from you. WRITE TO YOUR U.S. REPRESENTATIVE TODAY.

Urge a NO VOTE on H.R. 4820, H.R. 4664, and any amendments which seek to further cut funding: