The Washington House of Representatives unveiled its 2023-2025 operating budget on Monday, and tackling the ongoing housing crisis is at the forefront for the next biennium.
The over $8 billion budget proposes to allocate $704 million toward construction, affordable housing and home upgrades. Most notably, $400 million would go toward the Housing Trust Fund, and $175 million would be poured into the state’s emergency housing model.
The operating budget is said to not rely on any additional tax increases.
Other funding would go toward the following:
- Installing whole-home energy retrofits, $83.2 million.
- Utility and infrastructure costs related to affordable housing construction, $75 million.
- Affordable development near major transit lines, $50 million.
- Land acquisition for affordable housing, $40 million.
- Low-income rural home rehabilitation, $6 million.
The budget also proposes spending $14.5 million toward youth shelter and transitional housing across the state and $150 million to create a covenant homeownership program, which would help first-time homebuyers and alleviate housing discrimination in the state.
“Families in every corner of the state are hurt by the housing crisis. That’s why we worked with lawmakers from both parties to craft this budget with a focus on housing, with $704 million invested in more affordable housing, emergency shelter funding, and home upgrades,” Rep. Steve Tharinger, D-Port Townsend, chair of the House Capital Budget Committee, said in a press release.
