Sen. Warren Introduces Legislation to Boost Housing Creation, Preservation

Wednesday, September 26, 2018 - 10:15am

Sen. Elizabeth Warren, D-Mass., today introduced the American Housing and Economic Mobility Act of 2018, legislation that would invest $445 billion in the Housing Trust Fund, $523 billion in rural housing programs and strengthen provisions in the Community Reinvestment Act to hold more financial intuitions accountable and strengthen sanctions for failure to follow rules. The legislation also limits zoning laws that make housing expensive and includes investment in the Capital Magnet Fund, the Indian Housing Block Grant program and creates a new Middle-Class Housing Emergency Fund. A summary of the legislation says it would fund as many as 3.2 million new housing units for lower- and middle-income families.