Senate and House Versions of the American Housing and Economic Mobility Act of 2018 Seeks Significant New Funding for HTF
Senator Elizabeth Warren’s (D-MA) “American Housing and Economic Mobility Act,” which proposes to increase funding for the HTF, now has companion legislation in the House of Representatives, introduced by Representatives Cedric Richmond (D-LA), Gwen Moore (D-WI), Barbara Lee (D-CA), and Elijah Cummings (D-MD).
The bill proposes new solutions to the ongoing affordable housing crisis in America by expanding or improving several vital programs, including a major increase in funding to the national Housing Trust Fund (HTF) to build and preserve homes for the lowest income households in America.
Among its provisions, the bill would:
Senator Warren, who introduced the “American Housing and Economic Mobility Act” in the Senate in September stated, “I’m excited to fight alongside Representatives Richmond, Lee, Cummings, and Moore for bold new legislation that confronts the shameful history of government-backed housing discrimination and is designed to benefit those families who have been denied opportunities to build wealth because of the color of their skin.”
The National Low Income Housing Coalition (NLIHC) and Monarch Housing enthusiastically supports this bold bill, applauding its major new investments in the HTF.
NLIHC’s report Getting Started shows how the HTF is being used by states to build, rehabilitate and preserve homes for extremely low-income households with incomes at or less than 30% of area median or less than the federal poverty line.
More than 1,880 organizations nationwide have signed on to a letter calling on Congress to expand the HTF. Join these efforts and endorse the National Housing Trust Fund campaign today!
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