Senator Kim Advocates for Final Passage of Bipartisan Housing Package to Build More Housing and Lower Costs

WASHINGTON, D.C. –Today, Senator Andy Kim delivered remarks on the Senate Floor in support of the21stCentury ROAD to Housing Act.As a member of the Senate Banking Committee, Senator Kim led multiple bills included in this package to address the critical shortage of housing, create affordable paths to own a home, and deliver common-sense solutions to get more houses built and more New Jersey families in the door.
“This bill is focused on expanding our housing supply and lowering costs. And Congress owes it to all the Americans we serve to tackle this problem plaguing so many Americans around our country,”said Senator Kim.
Watch Senator Kim’s Full Remarks
As referenced in his remarks, Senator Kimchampionedkey provisions included in the21stCentury Road to Housing Act, including but not limited to:
Key quotes from Senator Kim’s remarks as prepared:
“This bipartisan bill will take meaningful steps to lower the first-time homebuyer age significantly by allowing for the construction of substantially more homes at more affordable prices.”
“New Jersey is one of the slowest states in the nation to approve new housing construction…in some cases, it takes 5-7 years just to approve new housing and start construction. This is unacceptable… We must do better. To spur the construction of more housing,I championed permitting reform with Senator Rounds. These reforms provide a balance between strong environmental protections and getting rid of inefficient red tape that will help build more houses for New Jersey families and families around this country.”
“As I travel around my state, I hear constantly from mayors looking for ways to finance new housing.So, I led a bill, included in this package, to allow municipalities, for the first time, to use Community Development Block Grant (CDBG) funding for the construction of new housing.This provision will give mayors the flexibility they need to build more, and help more people lay roots in their communities, and grow their cities.”
“So much of this work also depends on strong private-public partnerships. New Jersey is in the center of the country’s financial system. For too long, banks have faced a statutory cap on how much they can invest into communities.I am proud to have led legislation that will increase this cap, which will unlock billions in capital for new housing.”
“In addition to these policies – that I truly believe will spur housing construction and help more Americans achieve homeownership –the package also reauthorizes critical programs that help my state, including the Community Development Block Grant Disaster Recovery Program and the HOME Investments Partnership Program.In the aftermath of Super Storm Sandy, New Jersey received over $4 billion from the CDBG-DR program to build back.”
“At a time when more Americans are losing faith in the American dream.At a time when more Americans are losing faith in the political system and their politicians. This package sends a message that we can still work together to solve hard problems facing Americans.This is a moment for us to come together and get something done for Americans.”
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