This week, Senator Bernie Sanders (D-VT) released his agenda for housing
policy as part of his presidential campaign. He joins a number of other
candidates who have expressed views on the future of housing in America during
the campaign. Senator Sanders focused on affordable housing challenges and
barriers to homeownership, highlighting his support for the Housing Trust Fund, which will
begin disbursing money for the first time this year after being signed into law
Specifically, Senator Sanders’ plan for affordable housing includes increased funding for the Housing Trust Fund and reinvesting in diminished affordable housing programs. In addition, it includes expanded use agreements and affordability requirements for programs like the Low-Income Housing Tax Credit (LIHTC), addressing capital needs in existing public housing and full funding for HUD’s rental assistance programs. Efforts to promote homeownership, increase fair housing enforcement, and assist underwater homeowners, are also included in his platform.
Former Secretary of State and presidential candidate Hillary Clinton visited affordable housing developments last week in New York prior to that state’s primary. She discussed the importance of reinvestment at the national level to preserve and develop affordable housing. Previously, Secretary Clinton released her “Breaking Every Barrier Agenda”, which included proposals to increase LIHTC allocations in communities of need, as well as building on the Choice Neighborhoods program and HUD rental assistance programs.On the Republican side, the presidential candidates have yet to release formal housing related platforms. However, Senator Ted Cruz (R-TX) did say he wants to abolish HUD, along with a number of other federal agencies, during the early stages of his campaign. He has suggested that affordable housing programs should be reformed as part of his anti-poverty overhaul of numerous federal programs impacting low-income households. Senator Cruz also believes that HUD programs and policies exacerbate the very issues they seek to address in many communities.
- NMHC and NAA Signal Support for the Affordable Housing Credit Improvement Act
- ACTION Coalition Letter - June 2019
- Source of Income Laws By State, County and City
- Senator Harris Introduces Renter’s Tax Credit
- IRS Issues Guidance Clarifying Multifamily Housing Bonds and Low-Income Housing Tax Credit (LIHTC)