Housing should be funded like infrastructure. Now Congress has a plan for that
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New bills and this week?s Democratic debate address the affordable housing crisis Today, two representatives introduced housing bills to Congress. Rep. Maxine Waters (D-CA) introduced the $100 billion Housing is Infrastructure Act of 2019 and Rep. Ilhan Omar (D-MN) introduced the trillion-dollar Homes for All Act.
Waters?s bill, which is co-sponsored by Sen. Kamala Harris, calls for an over $100 billion investment in existing federal housing funds like HUD Community Development Block Grants (CDBG), the Housing Trust Fund, the HOME Investment Partnership Program, and the USDA?s rural rental program.
?Like roads and bridges, affordable housing is a component of the nation?s infrastructure and a long-term asset that helps communities and families by connecting them to resources and opportunities,? the bill?s executive summary reads. The biggest proposed changes include bringing the public housing capital investment fund to $70 billion, up from $2.7 billion now, and bringing the CDBG fund to $10 billion, up from $3.3 billion now.
?We are in the midst of a housing affordability crisis across the country, caused in part by the lack of affordable and available rental units, rising rents, gentrification, and dilapidated public housing,? reads a statement from Rep. Waters. ?Studies have shown that neglecting our housing infrastructure will only hurt our economy, so I urge my colleagues to support this legislation to make the necessary investments in rural, suburb...
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