Yesterday, February 11, House and Senate negotiators reached a key agreement on a compromise version of HR 1, the American Recovery and Reinvestment Act of 2009. Some details of the $789 billion economic recovery package were officially released this afternoon. The final version includes a number of provisions related to housing and poverty, including:

• $1.5 billion for homeless prevention activities, which will be allocated to states, cities and local governments through the emergency shelter grant formula;
• $4 billion to the public housing capital fund to enable local public housing agencies to address a $32 billion backlog in capital needs -- especially those improving energy efficiency in aging buildings;
• $1 billion for the Community Development Block Grant program for community and economic development projects including housing and services for those hit hard by tough economic times;
• $250 million is included for energy retrofitting and green investments in HUD-assisted housing projects;
• $2.25 billion through HOME and the Low Income Housing Tax Credit program to fill financing gaps caused by the credit freeze and get stalled housing development projects moving;
• $2 billion for full-year payments to owners receiving Section 8 project-based rental assistance;
• $2 billion for the redevelopment of abandoned and foreclosed homes;
• $19.9 billion for additional Supplemental Nutrition Assistance Program (SNAP), formerly Food Stamps, to increase benefit levels by 13.6 percent;
• Continuation of the extended unemployment benefits program (which provides up to 33 weeks of extended benefits) through December 2009;
• One-time payments of $250 to Social Security beneficiaries, SSI recipients, and veterans receiving disability compensation and pension benefits from the VA; and
• Extension of the moratorium on all 7 Medicaid regulations.

Over the coming days, the Alliance will release more detailed information about this funding and its ramifications.

The Senate is likely to vote on the final conference version of HR 1 in the next day or two. Due to a compromise with Senators Susan Collins (R-ME), Olympia Snowe (R- ME), and Arlen Specter (R-PA), the measure is expected to receive the necessary number of votes needed to pass the Senate. The bill is expected to pass the House of Representatives tomorrow. President Obama is expected to sign the legislation by Monday.

Full Appropriations Summary