"�HUD has achieved measurable success since 2001 in carrying out its mission and meeting the many challenges confronting a Cabinet-level Department. Today, HUD annually subsidizes housing costs for approximately 4.5 million low-income households through rental assistance, grants, and loans. It helps revitalize over 4,000 localities through community development programs. The Department provides housing and services to help homeless families and individuals become self-sufficient. HUD also encourages homeownership by providing mortgage insurance for more than 6 million homeowners, many of whom would not otherwise qualify for loans.
"Supported by HUD's proposed $31.3 billion FY 2004 budget, this important work will continue. Housing remains a critical component of both the President's plan to promote economic growth and his focus on meeting the common challenges faced by Americans and their communities�.
"HUD's proposed budget offers new opportunities for families and individuals - and minorities in particular - seeking the American Dream of homeownership.
"It offers new opportunities for renters by expanding access to affordable housing free from discrimination.
"It provides new opportunities for strengthening communities and generating renewal, growth, and prosperity - with a special focus on ending chronic homelessness.
"And our budget creates new opportunities to improve HUD's performance by addressing the internal management issues that have long plagued the Department."
Read the Secretary's full 2004 Budget testimony.
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