Increase the supply of affordable housing throughout metropolitan regions
Will support "efforts to create an Affordable Housing Trust Fund to develop affordable housing in mixed-income neighborhoods. The Affordable Housing Trust Fund would use a small percentage of the profits of two government-sponsored housing agencies, Fannie Mae and Freddie Mac, to create thousands of new units of affordable housing every year...Will also restore cuts to public housing operating subsidies, and ensure that all Department of Housing and Urban Development (HUD) programs are restored to their original purpose."
Sources:
Housing trust fund appropriation pending in Congress
Updated: Tuesday, January 12th, 2010 | By Angie Drobnic Holan
President Barack Obama pledged to support more affordable housing, and a bill pending in Congress would fund a new Affordable Housing Trust Fund with $1 billion.
Obama proposed the funding in his budget, and the money is now part of Jobs for Main Street Act that is awaiting action by Congress.
Other public housing programs received significant funding from the stimulus package -- the American Recovery and Reinvestment Act -- passed in early 2009. Funds for capital and management received close to $4 billion.
These additional funding sources prompt us to move this promise to In the Works.
Sources:
Office of Budget and Management, 2010 Budget: Department of Housing and Urban Development, accessed Jan. 11, 2010
Thomas, HR 2847, accessed Jan. 11, 2010
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