HUD Plans 7-Day Shutdown Amid Sequester Cuts

March 16, 2013 | Comments Off on HUD Plans 7-Day Shutdown Amid Sequester Cuts

Daily Real Estate News | Friday, March 15, 2013

The U.S. Department of Housing and Urban Development announced this week that it plans to shut down for seven days sometime between May and September due to the forced government budget cuts to reduce spending known as sequestration.

During that seven-day shutdown, HUD says it will furlough more than 9,000 of its employees. It will spread out the shutdown days to limit the impact. It has not yet determined when those days will be.

HUD Secretary Shaun Donovan told a Senate panel last month that government spending cuts would have harsh consequences for housing programs. “The ripple effects are enormous because of how central housing is to our economy,” Donovan told the Senate panel.

Source: “Housing Department plans 7-day shut down due to sequester cuts,” Reuters (March 11, 2013)


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