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Recent proposals, including the President’s FY 2018 proposed budget and Speaker of the House Paul Ryan’s A Better Way plan, propose deep cuts and possible reforms to housing assistance. Currently, only one in five eligible renter households receives federal assistance. Any reductions to funding and the proposed reforms threaten the well-being of millions of households. This report provides an overview of the current landscape of housing assistance, its central role in the safety net, the evidence on contemporary policy proposals, and identifies critical gaps in our knowledge that suggest the need for more investigation prior to policy changes.