Today, Sen. Elizabeth Warren (D-MA) doubled down on her strategy to fix America’s housing crisis. Along with Rep. Cedric Richmond (D-LA) and Rep. Gwen Moore (D-WI), she introduced the American Housing and Economic Mobility Act to the House, a companion to a Senate bill Warren introduced in September.
The bill would create three million new housing units, improve access to affordable housing through anti-discrimination laws, and invest in families living in historically redlined communities. Independent analysis of the bill predicts that it will create 1.5 million jobs and bring rents down, on average, by 10 percent.
“America is facing a housing crisis—a crisis that has been decades in the making,” Sen. Warren said at a press conference at the U.S. Capitol Visitors Center. “This is a crisis that hits middle-class families, working families, the working poor, the poor poor. Costs are up and over time housing stock is deteriorating. The American Housing and Economic Mobility Act confronts the shameful history of government-backed housing discrimination and is designed to benefit those families that have been denied opportunities to build wealth because of the color of their skin.” Read more