What Sequestration Means for AANHPI Communities

Unless Congress acts by the end of the week, across-the-board cuts will scale back domestic programs and threaten jobs and the social safety net for millions of Americans. These cuts – sequestration – will directly impact a number of federal programs that provide much-needed services to underserved communities still recovering from the foreclosure crisis.
 
“In just four years during the recession, the number of Asian Americans, Native Hawaiians, and Pacific Islanders living in poverty increased by close to 40 percent," stated Lisa Hasegawa, Executive Director of the National Coalition for Asian Pacific American Community Development, “Sequestration will undermine recent signs of an economic recovery in our communities with unnecessary, destructive cuts to housing counseling, job training, and other programs that are helping families get back on their feet.”
 
Just a bit of what is at stake in 2013 alone:
  • 75,000 fewer households will receive foreclosure prevention, pre-purchase, rental or other counseling though HUD housing counseling grants
  • Up to $900 million in cuts to loan guarantees for small business owners
  • Cuts to rental assistance would put about 125,000 families at immediate risk of losing their permanent housing
  • Severe cuts to community development initiatives, including a $153 million cut to the Community Development Block Grant program and a $52 million cut to the HOME program will reduce social safety net programs for thousands of low-income AANHPI families
National CAPACD supports a balanced approach to deficit reduction that requires the wealthy to pay their fair share, protects social safety net programs, and supports the economic recovery in our communities. Deficit reduction cannot come on the backs of the most vulnerable.