Representative Keith Ellison (D-MN) is circulating a new “Dear Colleague” letter dated January 7, asking members of the House of Representatives to cosponsor H.R. 1213, the Common Sense Housing Investment Act. H.R. 1213 includes the United for Homes Campaign’s proposed changes to the mortgage interest deduction, and would apply the majority of the revenue raised by the changes to the National Housing Trust Fund. The bill currently has 10 co-sponsors and has been referred to the House Committee on Financial Services.
In the letter, Mr. Ellison cited a December 18 “chart book” post by the Center on Budget and Policy Priorities, “The federal government spent $270 billion in 2012 to help Americans buy or rent homes, but little of that spending went to the families who struggle the most to afford housing.”
Mr. Ellison said in the letter, “changes to the mortgage interest deduction are being considered as part of tax reform. My bill retains those funds in housing and targets them to those most in need of a safe and affordable option by investing in public housing, the National Housing Trust Fund and an expansion of the Low Income Housing Tax Credit.”
Enactment of H.R. 1213 is one of NLIHC’s top policy priorities and NLIHC urges advocates to request that their representatives in Congress cosponsor the measure.
The Dear Colleague is attached.
Read the CBPP chart book post at: http://www.cbpp.org/cms/index.cfm?fa=view&id=4067