Congress has adopted a new formula to distribute funding for Section 8 vouchers, which is also known as the Housing Choice Voucher Program. These vouchers allow very low-income families to choose and lease or purchase safe, decent, and affordable privately-owned rental housing. It is the nation's largest low-income housing program and provides two million low-income families with vouchers to help offset the cost of private rental housing. For the past few years, the Center on Budget and Policy Priorities has been working to strengthen the program and change the funding formula. The formula used in the past was inefficient, overfunding some public housing agencies and underfunding others, causing the loss of voucher assistance for approximately 150,000 low-income families. Implementing the new formula will enable agencies to restore about half of the lost vouchers this year.

Housing, Housing