WASHINGTON, D.C. -Today, in response to the Trump Administration’s release of its budget request to Congress for Fiscal Year 2020, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement:
“Trump has repeatedly shown that he has no interest in standing up for hardworking Americans and this proposal is just another example. This budget is the largest in federal history and includes an additional $8.6 billion for the construction of a senseless border wall. Yet, Trump continues to propose harmful cuts to critical programs that would affect families, seniors, veterans, persons with disabilities, and reduce affordable housing and community and economic development opportunities for people and communities across the nation.
“The budget would cut the U.S. Department of Housing and Urban Development’s budget authority by 16.4 percent compared to current levels and would eliminate new funding for the National Housing Trust Fund and Capital Magnet Fund, successful housing programs designed to increase the supply of affordable housing. The budget would also impose rent increases and work requirements on those receiving housing assistance and eliminate the Community Development Financial Institution Fund, the Community Development Block Grant, HOME Investment Partnerships programs, as well as key rural housing and community development programs, all of which have been used successfully to support communities and business development in rural and urban areas across the country.
“Trump’s proposal would eliminate the Consumer Financial Protection Bureau’s independent funding and impede its ability to fulfill its mission to protect consumers and hold Wall Street accountable.
“The contents of this budget are a travesty, but it comes as no surprise that Donald Trump would put forth a plan to harm hardworking Americans. I look forward to joining my colleagues in Congress to reject this reckless proposal.”
