Preserve Funds for Hometown Investment
Support federal investments such as the Community Development Block Grant and other federal programs that leverage resources in cities and towns.
The importance of Community Development Block Grants (CDBG) and other federal programs to local economic recovery cannot be overstated, especially in the current economy. More than 7,000 local governments-large and small, urban and rural-use these funds annually to support job creation, housing, and neighborhood revitalization needs.
As a consequence of deficit reduction efforts over the last two years, the federal government has cut deeply into the funding for CDBG and other programs that directly support cities and towns. CDBG funding alone has been slashed by over 25 percent in that time.
In truth, cuts to these domestic development programs add up to very small savings that will have little real impact on reducing the federal budget deficit, but will slow and eliminate thousands of projects that leverage public and private funds into new jobs and developments of lasting worth to communities across the country.
