In preparation for introduction of Representative Keith Ellison’s (D-MN) bill to reform the mortgage interest deduction and direct the savings to the National Housing Trust Fund, the National Housing Trust Fund Campaign is seeking organizational endorsements for the proposal.
For details on the proposal, see the attached document.
At an August 1 hearing of the Senate Banking Committee Housing and Urban Affairs Subcommittee on Housing, Transportation and Community Development (see article elsewhere in Memo), Senator Jack Reed (D-RI) also said that he will continue to work to fund the National Housing Trust Fund and that he would work with all of his colleagues to achieve this goal. Senator Reed asked what benefits the NHTF could bring. NLIHC’s Linda Couch, testifying at the hearing, said that because of its deep income targeting, the NHTF could set the nation on a path to ending worst case housing needs and ending homelessness in the United States. “There might be an additional benefit, particularly at this moment,” Senator Reed said. “Putting people back to work building rental properties, renovating rental properties. We have a very weak housing market.”