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Let's
make sure housing is affordable for all
Congressman Rothman
is a long-time champion of affordable housing for New Jersey's most vulnerable
residents. He has introduced several pieces of legislation aimed at increasing
access to housing, including the HOME Act, which would provide an additional 150,000
vouchers to public housing agencies.
Click here to read related news on Affordable Housing
For more information, you can read an op-ed by Rep. Rothman about increasing affordable housing options in New Jersey and read his position statement on affordable housing below.
Congressman Rothman's Statement on Affordable Housing
I am committed to ensuring
affordable housing for the people of New
Jersey and for all Americans. We all know that
affordable housing is scarce in Northern New Jersey,
due to a lack of viable properties and the increasing cost of living. New Jersey ranks 47th
out of the 50 states in the nation in the amount of available affordable
housing. I will continue to do all that I can to help revitalize our distressed
communities and ensure that New
Jersey residents are able to obtain the affordable
housing they need.
By providing affordable
housing to families and individuals in our region, we help build stable
communities where jobs and services can flourish and create neighborhoods for
all children to call home.
Fully
Funding Important U.S.
Housing and Urban Development Programs
As a Member of the House
Appropriations Committee, I help advise the Federal government on how to spend
money on housing and community development goals. In this capacity, I remain
committed to fully funding the numerous important programs under HUD's
jurisdiction, including the Section 8 program, the Community Development Block
Grant (CDBG) program, Section 811 (disabled) housing, Section 202 (elderly)
housing, and the Housing Opportunities for Persons with AIDS (HOPWA) program.
The Section 8 Voucher
Program, which serves over 2 million households, is the largest federal program
designed to provide affordable housing to low income families. Section 8
vouchers are tenant-based subsidies, determined by both family income and rent,
which families with low income use in the private market to lower their rent
costs to 30% of their incomes.
The CDBG program is the
largest source of federal financial assistance in support of state and local
governments' community development and neighborhood revitalization activities.
The program promotes local decision-making and is intended to principally
benefit low- or moderate-income individuals, prevent or eliminate slums and
blight, and meet urgent needs that threaten the health and safety of the
public.
Improving
Efficiency of Fannie Mae and Freddie Mac
I have supported legislation that would provide stricter oversight of the
Government Sponsored Enterprises (GSEs), including Fannie Mae and Freddie Mac.
Since the creation of Fannie Mae in 1938 and Freddie Mac in 1970, the GSEs have
served an important housing function by improving the distribution of capital
available for home mortgage financing. However, recent events, such as the use
of improper accounting practices at Fannie Mae and Freddie Mac, have raised
serious concerns about the adequacy of the current regulatory environment for
the housing-related GSEs. I believe that it is therefore necessary to create a
Federal Housing Finance Agency that will supervise and regulate the GSEs. This
legislation, called the Federal Housing Finance Reform Act, would also
establish new Affordable Housing Funds at both Fannie Mae and Freddie Mac.
The purpose of these funds
would be to:
- increase homeownership for families with extremely low
and very low incomes
- encourage investment in housing in low-income areas,
and
- expand and preserve the supply of rental homes for low
income families.
Tax Credit
for First-Time Homebuyers
I have also been a long
time supporter of legislation that helps first-time homebuyers. The Renewing
the Dream Tax Credit would create a community homeownership tax credit in order
to enable low- and moderate-income individuals and families to purchase a home.
Congress should pass this bill immediately.
President's
Budgets Have Ignored Affordable Housing
The budgets that the
President has proposed in recent years fail to reflect the values we hold and
the promises our government has made to care for those Americans who are most
in need. The proposals are fiscally irresponsible, adding trillions to the
deficit over the next 10 years; and cut funding for vital housing, community
development, education, veterans, and health care programs. Congress has thus
far been successful in softening many of the housing-related cuts proposed by
the President, including those to the Section 8 and CDBG programs, but much
more must be done to achieve the realization of affordable housing for all
Americans. That need is why I will continue to fight for important housing and
community development goals.
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