House Passes Affordable Housing Trust Fund Act

The U.S. House of Representatives passed H.R. 2895 on October 10, 2007 by a vote of 264 to 148.

The goal of the Trust Fund is to produce, rehabilitate, and preserve 1.5 million affordable housing units over the next 10 years and is seen as the biggest expansion of federal housing programs in a decade.  The Trust will initially allocate between $800 million and $1 billion annually directly to states and local communities.

In an October 10th press release, Chairwoman of the Financial Services Subcommittee on Housing and Community Opportunity Maxine Waters (D-CA) applauded the legislation as "address[ing] the affordable housing crisis as it affects every level of society...[the bill] will tackle the full range of housing crises, providing relief to overburdened renters and homeowners while targeting funds where the need is the greatest."

H.R. 2895, The National Affordable Housing Trust Fun Act, is linked below.