The letter, which Monarch Housing signed, cites the section of the bill that would assess a ten basis point fee on users of the new housing finance system. This fee is estimated to generate $5 billion a year. The bill would direct 75% of the funds raised to the NHTF.
The letter calls the NHTF a “game-changer in the ability of states to assure decent and affordable homes for their residents who are elderly, have disabilities, are homeless, or are low wage working families.”
NLIHC and many others are working with committee staff to clarify and improve the overall bill language in advance of the April 29 full committee mark-up. But opposition from the right is heating up. 60Plus, a 501(c)(4) organization that promotes conservative causes, has issued television attack ads against seven Senators for their support of the Johnson-Crapo bill. The ads call the bill the “Obamacare for the mortgage industry.”
In addition to Senator Crapo, the Senators targeted by the ads are:
All serve on the Senate Banking Committee. Senators Warner and Hagan are running for reelection this year.
A review of the ads by Factcheck.org, a nonpartisan, nonprofit project that “aims to reduce the level of deception and confusion in U.S. politics” shows the assertions made in the ads to be false.
The National Housing Conference (NHC) will be issuing a statement on behalf of housing organizations, including NLIHC, objecting to the ads. The NHC statement says that the “opposition to needed reform has little to do with creating homes for Americans.”
Click here to read the thank you letter to Senators Johnson and Crapo.