Our district has a very big problem with homelessness. The affordable housing crisis is hitting urban communities of all ethnicities, faiths and cultures. Rents are increasing, while wages remain the same and it’s really reaching epidemic proportions.
It must be understood that Congress has a public-housing policy for the rich when it subsidizes the homes of the highest-income households through the mortgage interest deduction which benefits 7 million households, who earn more than $200,000, and not the 55 million lowest-income renters. This is unacceptable, and people who work 40 hours a week should not be making a choice between food/necessities and a roof. This is a violation of human rights.
I am in full support of the Common Sense Housing Investment Act H.R. 948 to reform the mortgage interest deduction (MID) by capping it. The savings should be reinvested to help more families struggling to pay their rent. Through this plan 25 million low and moderate-income families who own homes will receive a tax break. More than $241 billion will be reinvested towards proven solutions ending homelessness and housing poverty through the funding of the National Housing Trust Fund, rental assistance and affordable housing investments. We will be able to expand these proven solutions through the fees gathered through my climate change policy as well.
We can do better as a nation to address the housing crisis because everyone deserves a safe place to live a basic life.