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New Housing Bill Includes Housing Trust Funds
The US House of Representatives and US Senate pass a housing bill that includes a housing trust fund.
From the National Low Income Housing Coalition: This is the first new federal housing production program since the HOME
program was created in 1990 and the first new production program specifically
targeted to extremely low income households since the Section 8 program was
created in 1974.
After months of negotiations
among Senate Democrats, Senate Republicans, House Democrats, House Republicans
and the Bush Administration, the House of Representatives on July 23 passed H.R.
3221, the American Housing Rescue and Foreclosure Prevention Act of 2008, on
July 23 by a vote of 272-152. The Senate approved the House-passed bill on July
26 by a vote of 72-13. President Bush has stated that he will sign the bill.
Among the bill’s numerous provisions is the establishment of a Housing Trust
Fund. This is a major victory for low income housing advocates and the lowest
income people in our country with the most serious needs.
The Housing
Trust Fund’s most important features are:
The National Housing
Trust Fund campaign has 5,600 endorsers.
For information on CCC's Housing Trust Fund Project, click here.
Check out our press release here.
