Common-Sense Housing Investment Act
Last week, Representative Keith Ellison (D-MN) circulated a new “Dear Colleague” letter for H.R. 1213, the Common-Sense Housing Improvement Act. The bill incorporates the United for Homes campaign proposal to reform the mortgage interest deduction and applies the majority of the savings to the National Housing Trust Fund (NHTF), has 12 co-sponsors. None of the co-sponsors are from NJ.
In the letter, Mr. Ellison references the recent Joint Center on Housing Studies report, America’s Rental Housing: Evolving Markets and Needs:
“It found that there has been a decrease in renters’ incomes and an increase in the rents demanded… We must invest in building new affordable rental housing to provide homes for all of our residents. The sequester and budget cuts have devastated funds for new housing production at the Housing and Urban Development and U.S. Department of Agriculture. We need a new approach to raise needed revenue. My bill, the Common Sense Housing Investment Act of 2013 (H.R.1213) would invest $200 billion over ten years to expand the supply of affordable rental housing for extremely low-income families, veterans, people with disabilities and the elderly.”
Advocates should make sure their representatives see the Dear Colleague letter, and to urge them to co-sponsor H.R. 1213.
Click here to learn more about the United for Homes campaign.
Click here to read the Dear Colleague letter.