TTF Deal Could Harm Housing Choices, says Network

$1.4 billion budget deficit estimated as result of transportation proposal

WASHINGTON, D.C. – (RealEstateRama) — Housing advocates are expressing concern over the current proposal to fund the Transportation Trust Fund. It is estimated that tax cuts under the proposal would create a $1.4 billion budget deficit. Ahead of Friday’s vote in the New Jersey Legislature on the proposal, Network President and Chief Executive Officer Staci Berger issued the following statement:

“New Jersey’s budget should be investing in homes our residents can afford as well as services that help our communities thrive, including efforts to address our relentless foreclosure crisis. More millennials are living at home here than anywhere else in the country, because they can’t afford a place of their own. Cutting $1.4 billion from the state budget threatens their future, and has the potential to harm critical housing programs and the capacity to create more affordable homes that all New Jerseyans need. Instead, we should be putting resources into proven strategies that grow our state’s economy so that we can all afford to call New Jersey home.”

About the Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 250 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities. For more information on the Network, visit www.hcdnnj.org.

For more information: Nina Arce
(609) 393-3752 x1200
(609) 789-7900
Website: hcdnnj.org
Twitter site: twitter.com/hcdnnj
Facebook site: facebook.com/hcdnnj

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