Senator Catherine Cortez Masto (D-NV) on May 19 introduced the “Affordable Housing Production Act.” The bill would amend the “Emergency Economic Stabilization Act of 2008” and would make more funding available for the national Housing Trust Fund (HTF) by redirecting Troubled Assets Relief Program (TARP) funds returned to the Department of Treasury. This would result in an estimated investment in HTF of between $500 million and $1.4 billion. The bill is cosponsored by Senators Alex Padilla (D-CA), Dianne Feinstein (D-CA), Jeff Merkley (D-OR) and Bernie Sanders (D-VT). Companion legislation, H.R. 2292, was introduced in the House by Representative Norma Torres (D-CA) (see Memo, 04/05). NLIHC supports this legislation.
Read more about the bill at: https://bit.ly/3yr77aj
Read the press release at: https://bit.ly/3bEngPS