NLIHC endorsed four bills introduced last week by Senators Cortez Masto (D-NV), Warnock (D-GA), and Reed (D-RI). If enacted, these bills would preserve manufactured homes, bridge the gap between incomes and housing costs, curb corporate landlord practices that drive up housing costs, and support households’ abilities to build financial wealth.
“Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Act” – Senator Catherine Cortez Masto (D-NV)
Senator Cortez Masto (D-NV) introduced the “PRICE Act” (S.943) to preserve and revitalize manufactured housing communities. If enacted, the bill would permanently reauthorize the PRICE grant program. The PRICE grant program provides funding for construction of and improvements to manufactured homes and communities. About 18 million Americans live in manufactured homes, including approximately 8.5 million senior or low-income residents.
“Rent Relief Act” – Senator Raphael Warnock (D-GA)
The “Rent Relief Act” (S.968) would create a refundable renter tax credit for millions of housing cost-burdened renters who face impossible choices between paying rent and meeting their other basic needs, including putting food on the table and taking care of their health. The renter tax credit is designed to make housing affordable for millions of the lowest-income people, who are disproportionately people of color. Rents are rising faster than wages, and more than a quarter of extremely low-income families pay more than half of their incomes on rent. This bill would build on the success of the Child Tax Credit to provide monthly support to renters earning less than $100,000 annually who spend at least 30% of their gross income on rent and utilities. Read NLIHC’s fact sheet about the “Rent Relief Act” here.
“Stop Predatory Investing Act” – Senator Raphael Warnock (D-GA)
The “Stop Predatory Investing Act,” (S.969) previously led by Senator Sherrod Brown (D-OH), would remove tax advantages enjoyed by private equity investors to disincentivize ownership of more than 50 single-family rental properties. This bill targets institutional investors that have driven up housing costs by acquiring large numbers of single-family homes. The legislation would eliminate tax deductions for mortgage interest and depreciation for entities that own 50 or more single-family properties. The bill aims to discourage speculative investment in the housing market and help keep homes within reach for everyday families rather than corporate landlords.
“Family Self Sufficiency Act” – Senator Jack Reed (D-RI)
Sponsored by Senator Reed, the “Family Self Sufficiency Act” (S.970) would establish a pilot program to strengthen and expand the Family Self-Sufficiency (FSS) Program, which helps low-income families in federally assisted housing build their financial savings. The legislation, if enacted, would support innovative strategies to enhance participation, provide additional support services, and create pathways to homeownership and economic mobility for families facing systemic barriers.
These legislative efforts reflect a growing recognition in Congress that addressing the housing crisis requires bold solutions. NLIHC continues to advocate for these bills and other measures that prioritize housing stability, affordability, and renter protections.
Read Senator Cortez Masto’s “PRICE Act” press release here.
Read the press release for Senator Warnock’s bills here.