On November 7, 2013, National Low Income Housing Coalition (NLIHC) President and CEO Sheila Crowley testified before the Senate Committee on Banking, Housing, and Urban Affairs at a hearing, “Housing Finance Reform: Essential Elements to Provide Affordable Options for Housing.”
Discussion in the hearing largely focused on the National Housing Trust Fund (NHTF) with many Senators expressing support for the NHTF to address the shortage of affordable housing.
Senator Bob Corker (R-TN), co-author of the S.1217, the Housing Finance Reform and Taxpayer Protection Act of 2013 that includes the NHTF, said “at the end of the day, the reality is that a bill that passes the Senate will likely fund the Housing Trust Fund.”
A concern raised about the NHTF had to do with the degree and nature of oversight it would have. Ms. Crowley assured the Senators that the National Housing Trust Fund campaign welcomes Congressional oversight of the program.
In a response to a question from Committee Ranking Member Mike Crapo (R-ID), Crowley said, “there is no one who wants more accountability for the National Housing Trust Fund in this country than me.”
Responding to a similar question from Senator Corker, she reiterated the accountability provisions for the NHTF that are already in place in the Housing and Economic Recovery Act of 2008 (HERA) through which the NHTF was enacted.
Click here to watch an archived webcast of the November 5 hearing and read all witness testimony.
Click here for Sheila Crowley’s complete testimony.