The National Low Income Housing Coalition, along with more than 2,225 organizations, is pushing Congress to fully fund the National Housing Trust Fund.
The NHTF was created as part of the Housing and Economic Recovery Act of 2008. Once funded it will support the production, preservation and operation of rental homes for the lowest income Americans.
The NHFT is the first federal rental housing production program that is specifically targeted to extremely low income households since the Section 8 program was established in 1974.
Proposed legislation (S.3793) would provide $1 billion for NHTF and $65 million for vouchers to be linked with an estimated 10,000 rental units to be produced and preserved by the NHTF.
I am adding my voice to that of the National Low Income Housing Coalition, and more than 2,225 organizations, in urging Congress to act soon to provide the initial funding for the National Housing Trust Fund (NHTF). We are requesting $1.065 billion be provided immediately to the NHTF: $1 billion to capitalize the NHTF and $65 million for project-based vouchers to couple with NHTF capital grants.
The NHTF was created in the Housing and Economic Recovery Act of 2008 (HERA) to address the severe shortage of rental homes that are affordable for the lowest income families, but it has not yet been funded.
In the United States today, there are only 37 rental homes available and affordable for every 100 households with incomes below 30% of their area median. A scarcity of housing that the poorest families can afford is the principal cause of homelessness in the United States.
Investment in the NHTF will also create good jobs. Every $1 billion provided to the Trust Fund will support the immediate construction of 10,000 rental homes, creating 15,100 new construction jobs and 3,800 new jobs in ongoing operations.
Congress must act now to provide this badly needed funding. Thank you for your consideration of this request.
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