Warner Bills to Boost Housing Supply and Make Housing More Affordable Pass Key Congressional Hurdle

VIDEO OF SEN. WARNER’S REMARKS AT THE COMMITTEE MARKUP IS AVAILABLE HERE
WASHINGTON – Today, the U.S. Senate Committee on Banking, Housing, and Urban Affairs unanimously voted to advance theBipartisan ROAD to Housing Act. This legislation, which includes several provisions authored and championed by Sen. Mark R. Warner (D-VA), will take important steps to boost the nation’s housing supply, improve housing affordability, help reduce homelessness, expand access to homeownership, and increase oversight and efficiency of federal regulators and housing programs.
“Everywhere I go in Virginia, I hear from families and local leaders who are struggling with the high cost of housing. I’m proud to see several key proposals that I have authored and championed included in this bipartisan legislation, which will help get more housing built, expand access to homeownership, and make sure federal programs are doing their job effectively. This is a strong step forward in addressing the housing crisis, and I’m glad to see it move out of committee with unanimous support,”said Sen. Warner.
The legislation includes several Warner-authored or championed provisions, including:
Today’s committee action builds on Sen. Warner’s longstanding commitment to expanding access to affordable housing and homeownership. In recent months, he has introduced and supported a range of bipartisan bills to spur new housing construction and redevelopment, including theNeighborhood Homes Investment Act,Preserving Rural Housing Investments Act,Affordable Housing Credit Improvement Act,New Markets Tax Credit Extension Act, theRural Historic Tax Credit Improvement Act, and theHistoric Tax Credit Growth and Opportunity Act. He is also the lead author of theLow-Income First Time Homebuyers (LIFT) Act, which would help qualified first-generation homebuyers build equity in their homes by offering a 20-year mortgage with monthly payments comparable to a traditional 30-year loan. Additionally, Sen. Warner is a cosponsor of theDownpayment Toward Equity Act, which would provide federal grants to help first-generation homebuyers cover down payments, closing costs, and other upfront expenses.
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