Warren Bill Would Boost Housing with Investment in HTF, CMF
Sen. Elizabeth Warren, D-Mass., and two colleagues today introduced legislation to leverage federal funds to build as many as 3.2 million homes, mostly investment in the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF). A companion bill to the American Housing and Economic Mobility Act was introduced by 14 members of the House of Representatives. The legislation would include a $445 billion commitment to the HTF, $25 billion for the CMF and several other investments. It also would create incentives for local governments to eliminate unnecessary land-use restrictions and would expand the number of institutions covered by the Community Reinvestment Act.