Working to Promote Homeownership and Affordable Housing

Homeownership plays a key role in helping provide stability for families and communities. People with homes are more likely to get jobs and contribute to our region’s schools, businesses, and community organizations. But not everyone can afford a home. So Congress needs to find ways to support both homeownership and affordable housing. Together, these policies are not only good for our economy, they ensure that more people can live with the dignity of having a roof over their head and a decent place to keep their family safe and secure.

• Bordering the Pacific Ocean and a variety of lakes and rivers, flood insurance is vitally important for a number of communities in our region. Congress passed legislation in 2012, before Representative Kilmer joined Congress, to make the National Flood Insurance Program more financially stable and bring flood insurance premiums more in line with the actual flood risk property owners face. After this led to skyrocketing premiums for property owners and painful declines in property values, Representative Kilmer cosponsored the Homeowner Flood Insurance Affordability Act, to ensure that homeowners had more certainty and predictability with the flood insurance program.
   
• Homeownership is a key element of the American Dream.  Congress should support homeownership and recognize that the mortgage interest rate deduction has played a key role in making homeownership available to more Americans. Not every American can or should buy their own home, however. Representative Kilmer believes that it is essential Congress continues to support the Low Income Housing Tax Credit. Our communities benefit when we support the ability of families to get stable, affordable housing.
   
• While Congress considers the possibility of reforming government-sponsored entities such as Fannie Mae and Freddie Mac, Representative Kilmer believes Congress should keep the 30-year fixed rate mortgage affordable and be very cautious about ending the government backing which has made homeownership accessible to middle-class families.