NLIHC Launches United For Homes Campaign to Fund NHTF

NLIHC officially launched the campaign to fund the National Housing Trust Fund (NHTF) through a modernization of the mortgage interest deduction on March 18 at its 2013 Housing Policy conference in Washington, DC. The campaign, “United for Homes,” supports Representative Keith Ellison’s (D-MN) bill, H.R. 1213, the Common Sense Housing Investment Act. The bill would lower the cap on the size of a mortgage for which the interest can be deducted from $1 million plus $100,000 in home equity loans to $500,000. The measure would also convert the deduction to a 15% nonrefundable tax credit. These two modifications would save approximately $197 billion over ten years. The bill would direct the majority of these savings to the NHTF (see Memo, 3/15).NLIHC Board Chair Mark Allison kicked off the launch event, quoting Dr. Martin Luther King, Jr., saying, “the arc of the moral universe is long but it bends towards justice,” and adding that progress is made in “fits and starts.” However, he noted, great leaps forward do happen, and have in recent years through the election of the first African-American president, the first female Speaker of the House of Representatives, and the appointment of the first Latina Supreme Court Justice. Mr. Allison said that the mortgage interest deduction is on the table today like never before, and that this change in public opinion can in part be viewed as a victory for NLIHC. Mr. Allison announced that NLIHC’s board has directed $1 million of its endowment to United for Homes to be spent in 2013 and 2014 to “seize on this moment” of momentum around tax reform and MID modernization and “get things done.”NLIHC President and CEO Sheila Crowley noted that funding the National Housing Trust Fund through MID modifications would not cost taxpayers any additional money, instead using the money already invested in housing in a “smarter way” to address the housing needs of the very poor. Ms. Crowley said while NLIHC will work as hard as it can to succeed in this campaign, the key to success is NLIHC’s allies. Ms. Crowley said that the impact of the endorsement of the campaign by hundreds of organizations cannot be overstated, and urged endorsers to use social media to distribute the message.Representing campaign partner the Right to the City Alliance (RTTC), President Rachel LaForest discussed her organization’ support for the NHTF and their new alliance with NLIHC. Luis Salinas, a member of RTTC, spoke next about the importance of preserving housing that is affordable to households with the lowest incomes.At the campaign launch, Representative Keith Ellison (D-MN) announced the introduction of his legislation, H.R. 1213. Mr. Ellison said “it ought to be the case that in the richest country in the world that there is no one homeless. If we are bold in our vision and committed in the vision it will be the case.” Mr. Ellison disused his conversation with Ms. Crowley over two years ago when he decided to spearhead the effort to fund the NHTF through a modernization of the MID. Mr. Ellison said that instead of giving up when the Federal Housing Finance Agency (FHFA) temporarily suspended payments from Fannie Mae and Freddie Mac to the NHTF, NLIHC turned to the MID as a source of revenue. “Some people won’t take no for an answer.” He recounted how he said to Ms. Crowley, “I am your humble servant; let’s get this done together.” Mr. Ellison also said that “the lack of affordable rental housing is one of the greatest challenges of our time, and that affordable housing is about more than rent; it’s about making sure there is a ladder up… people are saying ‘just give me a chance to ascend to the middle class.’” Mr. Ellison then said he fears that sequestration will make this problem worse, particularly if the supply of rental housing affordable to extremely low income people is not expanded through the NHTF. “Tax reform is coming. We can have a tax code that protects the status quo or we can have a tax code that benefits working families. Supporters of the status quo will be out in force. They will make their voices heard. Will you support a real solution to the rent burden crisis? Will you fight to enable families to live in safe, and affordable homes? Will you stand for affordable rental housing,” asked Mr. Ellison.“It is time for all of us to act and we all have to take personal responsibility for the success of this initiative,” said Mr. Ellison, as he closed with a request for conference attendees to ask their Representatives in Congress to cosponsor H.R. 1213.Conference attendees, spanning policy experts, assisted housing residents, affordable housing advocates and front-line social workers, participated in 24 workshops on March 18 and 19 that focused on the National Housing Trust: how to get it funded, research that shows the need for ELI rental housing, how it will help veterans, people who are homeless, and people with disabilities, models of ELI rental housing development, the NHTF regulations, the proposal for MID reform, public opinion, use of social media, organizing strategies, and more.They were well-prepared to go to Capitol Hill on March 20 to educate the Senators and Representatives from 24 states whose offices they visited. They sought support for NLIHC’s proposal to capitalize the National Housing Trust Fund with savings from mortgage interest deduction modification, as well as carrying the message that sequestration is endangering low income housing programs in their home states. Members and supporters unable to attend the campaign launch and conference can take action by contacting their Members of Congress directly on these two priorities when they are at home for two-week Easter recess. Please set up home state and district meetings with your Senators and Representatives and their staffs. NLIHC can provide materials for these upcoming meetings. Please contact the Outreach Team for assistance at [email protected]. Click here to learn more about the United for Homes Campaign.

Click here to endorse the NLIHC’s proposal to find the National Housing Trust Fund through reform of the mortgage interest deduction.

Click here to read H.R. 1213, the Common Sense Housing Investment Act of 2013.