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HUD Funding Up In Trump's Budget Proposal

Overall proposal has deficits for 2 more years

Feb. 12, 2018

By Mortgage Daily staff



President Donald J. Trump's federal budget proposal moves some expenses to the states and has deficits continuing to expand over the next two years. Funding for the Department of Housing and Urban Development has been increased from last year's proposal, while more activity is expected from the Government National Mortgage Association.

In its first year in office, the Trump administration boosted economic growth, created more than 2 million jobs and added nearly $5 trillion in new wealth to the stock market, according to its fiscal-year 2019 budget presented to Congress.

"Unemployment is at a 17-year low, wages are rising, and jobs are returning to America," the report from the president's Office of Management and Budget states. "Starting this month, hardworking Americans are going to see increased take home pay because of the massive tax cuts and tax reform legislation we enacted at the end of last year."


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