Print More

FYI: The House granted this week the Bush administration’s request for $200 million in funding for its home-buying subsidy program, appropriating the money for both fiscal years 2004 and 2005. The program, dubbed the American Dream Downpayment Initiative, gives low-income first-time home buyers grants averaging $5,000 for their downpayments and is part of the administration’s focus on increasing homeownership as a route out of poverty. To qualify, participants can have annual incomes of up to 80 percent of their area’s median. Meanwhile, advocates are planning a rally for next week, Oct. 8, to kick off a lobbying campaign for Reps. Julia Carson’s and John Conyers’ omnibus Bringing America Home Act, which offers a massive list of initiatives designed to fight homelessness by expanding access to social security insurance, increasing rental subsidies, building more affordable housing and integrating supportive services into housing programs. [10/3/03]

Leave a Reply

Your email address will not be published. Required fields are marked *