CNN Highlights the Affordable Housing Credit Improvement Act as Opportunity to Increase Affordable Housing Production

An article in CNN Politics explores ways the federal government can boost the supply of affordable housing across the nation and make a dent in the growing shortage of affordable rental homes. The article highlights the Affordable Housing Credit Improvement Act (S. 548), bipartisan legislation sponsored by Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT), as a prominent solution to help address the crisis. S. 548 would expand the Housing Credit by 50 percent and is estimated to help create an additional 400,000 units of affordable rental housing over 10 years. The article also notes that incentivizing local policy changes through federal grants, decreasing the cost of construction by lifting tariffs on lumber and steel, and supporting training programs to bring more skilled workers into the construction sector could all aid in expanding the supply of affordable housing nationwide. Ali Solis, president of Make Room, explains that "there needs to be a full commitment from the president down to the city council level to come together and make housing a national priority." Last month Enterprise released a new white paper, Proven Local Strategies for Expanding the Supply of Affordable Homes and Addressing Cost Challenges, which highlights how high-cost cities have boosted the supply of affordable homes and reduced costs.

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