The House Financial Services Committee released on September 9 landmark legislation to invest $327 billion in affordable housing as part of a $3.5 trillion infrastructure and economic recovery package. The Committee will begin voting on the bill today. Thanks to your sustained and effective advocacy, and to the leadership and dedication of Chairwoman Maxine Waters, House Speaker Nancy Pelosi, Chairman Sherrod Brown, Majority Leader Chuck Schumer and other congressional leaders, the bill includes robust funding for the HoUSed campaign’s top priorities including $90 billion for rental assistance, $80 billion to preserve public housing, and $37 billion in the national Housing Trust Fund to build and preserve homes affordable to people with the lowest incomes.
This is an extraordinary milestone, but we have further to go to achieve these long overdue and much needed investments. Advocates should continue to contact their senators and representatives and urge them to move quickly to enact the infrastructure and economic recovery package and to prioritize the highest level of funding possible for rental assistance, public housing, and the Housing Trust Fund.
Background
The House Financial Services Committee legislation invests more than $330 billion in affordable housing through a $3.5 trillion infrastructure and economic recovery reconciliation bill, which could pass in the Senate with a simple majority rather than the 60 votes required for other legislation. The bill was drafted by the House Financial Services Committee and Senate Banking and Housing Committee.
The legislation would invest robust funding in the HoUSed campaign’s top priorities. The bill includes:
- $90 billion for rental assistance, including $75 billion for Housing Choice Vouchers and $15 billion for Project-Based Rental Assistance
- $80 billion to preserve public housing
- $37 billion for the national Housing Trust Fund (as a set-aside within the HOME Investment Partnership Program)
If passed, the bill would also fund additional housing programs, including:
- $35 billion for the HOME Investment Partnership Program
- $9.6 billion for a new “Housing Investment Fund” through the Capital Magnet Fund
- $10 billion to address lead hazards and ensure healthy housing
- $10 billion for down payment assistance
- $8.5 billion for Community Development Block Grants
- $7.5 billion for a Community Restoration and Revitalization Fund
- $6 billion for green preservation of HUD multifamily housing
- $4 billion to address health and safety concerns in HUD homes
- $5.1 billion for rural housing
- $4.5 billion to address zoning barriers to affordable housing
- $2.5 billion for Section 202 Housing for the Elderly
- $1 billion for Section 811 Housing for Persons with Disabilities
- $2 billion for tribal housing
- $1.25 billion for fair housing activities
Read NLIHC’s analysis of the legislation here.
It is critical that Congress use this once-in-a-generation opportunity to prioritize investing in decent, accessible affordable housing for those with the greatest, clearest needs – people experiencing homelessness and people with the lowest incomes. If done right, such investments in this bill could effectively end homelessness in the United States.
Advocates should urge their senators and representatives to provide the highest possible funding levels for the HoUSed campaign’s top priorities: expanded rental assistance for those most in need; preservation of public housing; increased investments in the national Housing Trust Fund to build and operate rental homes for people with the lowest incomes.
The House Financial Services Committee is scheduled to vote on the bill today, before it is combined into a larger infrastructure and economic recovery package for a vote on the House floor by the end of the month. Democratic leaders are working to enact the bill by mid-October.
Take Action TODAY!
- Contact your senators and representatives and urge them to include full funding for the HoUSed campaign’s priorities in the infrastructure and economic recovery package. Educate your members of Congress on why investments in rental assistance, public housing, and the Housing Trust Fund are critical to your community.
- Join more than 1,400 organizations nationwide by signing the HoUSed campaign letter. This letter is one of the most effective ways to show congressional leaders the broad support for the HoUSed campaign’s priorities for the infrastructure/economic recovery bill. Sign on to the letter here.
Thank you for your advocacy!