Loading video...
Source: Congress.gov
Summary
No summary available.
Participants
Transcript
Without objection, the amendment is considered read. Will serve as base text for the purposes of amendment. I recognize myself for five minutes. I want to thank Ranking Member Waters, Housing and Insurance Subcommittee Chairman Mike Flood, and Ranking Member of the Subcommittee Emanuel Cleaver for joining me in introducing the Bipartisan Housing for the 21st Century Act. I'm proud of the product that we've put forth today for the committee's consideration. This bill targets one of the most pressing issues of our time, our housing affordability challenge. For too long, the United States has failed to keep pace with the growing demand for a diverse supply of reasonably priced homes across a wide variety of geographic locations and costs per square foot. Often in many markets, this shortage disproportionately impacts middle-income families who find themselves increasingly priced out of the market. This trend has been compounded by an array of factors, including a 40-year high of inflation in 2021 and 2022, with rising costs of materials, regulatory delays, lack of building capital, and outdated zoning laws, all making it nearly impossible for many Americans to achieve their dream of home ownership. We simply cannot stand by while hardworking families struggle to find housing. This housing package represents a critical step forward for our families of all sizes and in all locations across our diverse nation. The Housing for 21st Century Act streamlines housing development and affordability by updating outdated programs, removing unnecessary federal mandates and requirements, and increasing local control. I urge all members of the committee to support the bill and I yield back the balance of my time. Who seeks recognition on my amendment in the nature of substitute?
For far too long, millions of Americans have struggled to find a decent, stable, and affordable place to call home. That struggle is not abstract. It's real in rural towns, in urban areas, and in suburban neighborhoods all across our nation. The Housing for the 21st Century Act represents an important first step in that fight. H.R. 6644, a bill I'm proud to have introduced with Chairman Hill, along with Representatives Cleaver and Flood, would streamline housing development and affordability by expanding local development opportunities and modernizing housing programs that have become outdated or unwieldy. It also broadens access to home ownership, including through manufactured housing development and small dollar mortgage pilots, protects borrowers and assisted families, enhances federal oversight of housing providers, and increase the development of affordable housing for families in both rural and urban communities. I'm pleased that Mr. Hill and I were able to come together to advance this legislation. The housing crisis demands solutions that rise above partnership and deliver real results for Americans. But as I made clear during our last hearing on housing, and as I will continue to say, Policy reforms alone are not enough. These programs must be funded if they're going to work. For decades, federal housing programs have been chronically underfunded. We have asked them to do more with less while the affordable housing shortage has grown more severe. That approach has failed and families are paying the price. Streamlining and modernization are necessary steps, but these alone cannot build us out of this crisis.
Sign up for free to see the full transcript
Accounts help us prevent bots from abusing our site. Accounts are free and will allow you to access the full transcript.