Representative Ilhan Omar (D-MN) and Senator Jeff Merkley (D-OR) introduced on September 24 the “Affordable Housing Opportunities Made Equitable (HOME) Act,” which would address the nation’s housing crisis by providing significant funding for the construction of affordable housing.
If enacted, the Affordable HOME Act would:
- Provide $70 billion for the public housing capital fund
- Repeal the Faircloth Amendment to allow for the construction of additional public housing units
- Allocate $40 billion for the national Housing Trust Fund to construct, preserve, and operate deeply affordable housing
- Include $10 billion to provide federal down payment assistance, $10 billion for the construction of permanent supportive housing under the McKinney-Vento Homeless Assistance Grants, and $10 billion for the development of housing co-ops and community land trusts
These crucial investments would help lower the cost of housing by investing in the supply of deeply affordable housing, reduce chronic homelessness, and address systemic racism in housing policy.
“More than ever, bold policies are needed to ensure that the lowest income and most marginalized people have a stable, affordable, accessible home,” said Diane Yentel, NLIHC’s president and CEO. “I applaud Representative Omar for her continued leadership and dedication in advocating for solutions to America’s housing crisis, such as those included in the Making Affordable Housing Opportunities More Equitable Act.”
Read the bill at: https://bit.ly/3EY4Zdk
Read the congressional press release at: https://bit.ly/3m5xw8f
Read a summary of the bill at: https://bit.ly/3ulrTWV