March 05, 2003
The Affordable Housing Trust Fund would triple the construction of affordable housing in the United States by providing almost $5 billion from the Federal Housing Administration surplus, money that is now dormant. States and non-profit organizations could draw money from the Fund to build affordable housing rental units, construct affordable homes for low- and middle-income individuals, and provide rental subsidies to low-income individuals.
"I am very happy to be a part of this historic legislation," said Lee. "At a time when the Bush Administration has slashed its funding for affordable housing, the National Housing Trust Fund would provide enormous resources to combat our housing crisis, without harming any of our existing programs."
Lee also said that the Trust Fund would serve as a tremendous investment in infrastructure, which has been devastated by the worst economic conditions in more than a decade. According to a recent study by the Center for Community Change, the National Housing Trust Fund could ultimately generate 1.8 million decent paying new jobs and nearly $50 billion in wages.
"The Trust Fund would generate millions of new jobs and billions in wages," said Lee. "With the unemployment rate climbing over the last year, the Fund would immediately provide jobs and boost our economy."
"The creation of the National Affordable Housing Trust Fund is needed now more than ever. Affordable housing should be a fundamental right, and I will fight to ensure that Americans have the opportunity for decent housing at a fair price."
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Congresswoman Lee represents the Ninth Congressional District of California and serves on the Housing and Community Opportunity Subcommittee of the House Financial Services Committee.
Congresswoman Lee Introduces Affordable Housing Trust Fund
Washington, DC - Congresswoman Barbara Lee (D-CA) today joined colleagues Congressman Bernie Sanders (I-VT) and Congressman Rob Simmons (R-CT) in introducing legislation to establish a National Affordable Housing Trust Fund. The three co-sponsors held a Wednesday morning press conference to announce their initiative.The Affordable Housing Trust Fund would triple the construction of affordable housing in the United States by providing almost $5 billion from the Federal Housing Administration surplus, money that is now dormant. States and non-profit organizations could draw money from the Fund to build affordable housing rental units, construct affordable homes for low- and middle-income individuals, and provide rental subsidies to low-income individuals.
"I am very happy to be a part of this historic legislation," said Lee. "At a time when the Bush Administration has slashed its funding for affordable housing, the National Housing Trust Fund would provide enormous resources to combat our housing crisis, without harming any of our existing programs."
Lee also said that the Trust Fund would serve as a tremendous investment in infrastructure, which has been devastated by the worst economic conditions in more than a decade. According to a recent study by the Center for Community Change, the National Housing Trust Fund could ultimately generate 1.8 million decent paying new jobs and nearly $50 billion in wages.
"The Trust Fund would generate millions of new jobs and billions in wages," said Lee. "With the unemployment rate climbing over the last year, the Fund would immediately provide jobs and boost our economy."
"The creation of the National Affordable Housing Trust Fund is needed now more than ever. Affordable housing should be a fundamental right, and I will fight to ensure that Americans have the opportunity for decent housing at a fair price."
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Congresswoman Lee represents the Ninth Congressional District of California and serves on the Housing and Community Opportunity Subcommittee of the House Financial Services Committee.