The article discusses the potential impact of President Trump's budget proposal, which aims to cut billions from federal housing aid in New York. This proposal threatens to disrupt the safety net for approximately 500,000 tenants reliant on housing vouchers, according to analyses by the New York Housing Conference. Industry experts warn that the proposed cuts could lead to a significant increase in evictions, homelessness, and market instability, disproportionately affecting smaller landlords whose tenants might struggle to pay rent.
Rachel Fee, executive director of NYHC, warned that cuts to HUD programs would lead to "a devastating wave of evictions, homelessness, market destabilization, and mortgage defaults across New York."
The proposed budget would cut $163 billion in discretionary federal spending, affecting critical housing aid for some 500,000 people in New York.
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