Rep. Torres’ Bill to Help Families Build Savings Passes House as Part of Major Housing Package

<p>Yesterday, Congressman&nbsp;<strong>Ritchie Torres</strong>&nbsp;(NY-15)’s bipartisan Helping More Families Save Act, introduced with Congressman William Timmons (SC-04), passed the House as part of the Housing for the 21st Century Act, a sweeping bipartisan package to address the nation’s housing affordability crisis.</p>

<p>The Torres-Timmons provision strengthens and modernizes the federal Family Self-Sufficiency (FSS) program by allowing families in federally assisted housing to build savings as their income rises without risking the benefits they rely on. The measure creates a pilot program through HUD enabling housing providers to establish escrow accounts that help families transition toward long-term financial independence.</p>

<p>“Hard-working families should not be penalized for getting ahead,” said&nbsp;<strong>Congressman Torres</strong>. “By expanding the Family Self-Sufficiency program, we are giving families the chance to build savings, invest in their future, and move toward lasting economic independence. This is a common-sense step to help more Americans break out of poverty and build a better life.”</p>

<p>The broader housing package passed the House with strong bipartisan support and now heads to the Senate for consideration.</p>
<p>The post <a href="https://ritchietorres.house.gov/posts/rep-torres-bill-to-help-families-build-savings-passes-house-as-part-of-major-housing-package">Rep. Torres’ Bill to Help Families Build Savings Passes House as Part of Major Housing Package</a> appeared first on <a href="https://ritchietorres.house.gov">Torres</a>.</p>