Sequestration
On September 13, the Obama Administration released the “OMB Report Pursuant to the Sequestration Transparency Act of 2012 (P. L. 112–155).” The report provides detailed estimates of the Budget Control Act’s required sequestration (i.e. mandatory across-the-board spending cuts) to defense and non-defense funding. NAHMA was very concerned to learn that federal affordable housing programs could be cut by 8.2 percent across-the-board (if they are funded at FY 2012 levels) in 2013 due to sequestration. These cuts would be devastation to federal affordable multifamily housing programs. For more information on this issue, please visit our Grassroots Action Webpage.