United for Homes achieved a major milestone when Representative Keith Ellison (D-MN) introduced H.R. 1213, the Common Sense Housing Investment Act of 2013, on March 12.
What the Bill Does
- Lowers the cap on the amount of a mortgage for which interest can be deducted from $1 million to $500,000, and allows home equity loans and second homes under the $500,000 cap.
- Converts the mortgage interest deduction to a 15% non-refundable mortgage interest tax credit.
- Phases these changes in over five years.
- Directs the resulting revenue of approximately $196 billion over ten years to the National Housing Trust Fund ($109 billion), the LIHTC ($14 billion), Section 8 ($54 billion), and the Public Housing Capital Fund ($18 billion).
H.R. 1213 was introduced by Representative Keith Ellison (D-MN). Current H.R. 1213 Co-Sponsors Are:
Representative Yvette Clarke (D-NY)
Representative Donna Edwards (D-MD)
Representative Raul Grijalva (D-AZ)
Representative Mike Honda (D-CA)
Representative Hakeem Jeffries (D-NY)
Representative Barbara Lee (D-CA)
Representative Alan Lowenthal (D-CA)
Representative Jim McDermott (D-WA)
Representative Bobby Scott (D-VA)
Representative Louise Slaughter (D-NY)
Representative Paul Tonko (D-NY)
Representative Frederica Wilson (D-FL)
Full Text and Other Materials
- Click here to read the full bill.
- Click here to access the “Dear Colleague” letter seeking support for H.R. 1213 from other Representatives.
- Click here to access a second "Dear Colleague" letter issued on June 25, 2013.
- Click here to read the press release from Representative Ellison upon the bill’s introduction.
How to Support the Bill
Endorsing the United for Homes campaign means supporting the campaign’s efforts to fund the National Housing Trust Fund with revenue gained from modification of the mortgage interest deduction, including H.R. 1213. There are also some specific actions you can take to support the bill, beyond endorsing the campaign:
- Encourage your Representative to co-sponsor the bill. Visit this page on our website to find the contact information for your Representative, call his or her office and tell the staffer you want your Representative to co-sponsor H.R. 1213 so that everyone can access decent, affordable housing.
- Alert other housing advocates in your state to the need for co-sponsors. Send an email alert to your network urging them to ask their Representatives to co-sponsor the bill as well.
- Advocate in person. Include talking points on H.R. 1213 and the United for Homes campaign in your lobby visits and conversations with Representatives and their staffs during Congressional recess or when you're in Washington, D.C.