WASHINGTON – July 13, 2015 – (RealEstateRama) — The Financial Services Housing and Insurance Subcommittee held a hearing today to conduct oversight of the Department of Housing and Urban Development’s (HUD) Public and Indian Housing programs.
Despite 50 years of experience and over $1.6 trillion in annual appropriations, HUD remains overly bureaucratic, has failed to accomplish its mission, duplicates other state and local initiatives, and fails to deliver measurable results.
“As I’ve said in the past, the status quo isn’t good enough. The reality is that the funding situation isn’t going to get better. Despite even the best of attempts, asking for more federal dollars isn’t the solution. It’s time to roll up our sleeves and work together to build a stronger Office of Public and Indian Housing and a better HUD,” Subcommittee Chairman Blaine Luetkemeyer (R-MO) said.
Three years ago, the Government Accountability Office (GAO) reported that 20 different federal government entities administer 160 programs, tax expenditures and other tools that support homeownership and rental housing. These programs are in addition to initiatives created and funded by state and local governments.
However, despite the sheer number of these programs and the amount of taxpayer money expended on them, HUD has failed to achieve its goals of eliminating poverty and providing affordable housing.
The number of programs and the amount of money spent on them demonstrate that the Administration lacks a cohesive strategy to address long-term systemic poverty, promote self-sufficiency, and encourage economic growth and opportunity.
“Our reviews of public and Indian housing programs since 2012 have identified a number of areas in which PIH could strengthen its program assessments, increase efficiencies, and enhance collaboration efforts. HUD has made progress in implementing some of our recommendations, but additional actions are needed to address others.” Daniel Garcia-Diaz, GAO’s Director of Financial Markets and Community Investment