WASHINGTON -- Congress has cleared legislation that would allocate $1 billion to the HOME program in 1993, while lawmakers are rushing to complete work this week on a bill that would reauthorize the housing affordability program.

The $1 billion figure, approved by both houses on Friday, is a decrease from the $1.5 billion allocated to the program last year and proposed this year by the Senate. But housing lobbyists said the amount is substantially higher than the House's proposal for $600 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.