How the American Housing and Economic Mobility Act Plans to Tackle the Housing Affordability Crisis
Implemented in 2015, AFFH was based on vague language in the 1968 Fair Housing Act that requires. authority, the plans had little chance of being enacted. As Obama’s Council of Economic Advisors.
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The legislation, titled the American Housing and Economic Mobility Act, is perhaps the most far-reaching assault on housing segregation since the 1968 Fair Housing Act.
Last month, Senator Warren introduced the the American Housing and Economic Mobility Act. Over the course of a decade, the bill would invest half a trillion dollars in affordable housing-building as many 3.2 million homes for low- and middle-income Americans.
· A House version of a sweeping bill aimed at combating the nation’s housing crisis has been introduced. Rep. Cedric Richmond’s (D-La.) legislation, the American Housing and Economic Mobility Act, is the companion bill to a massive housing proposal introduced by Sen. Elizabeth Warren (D-Mass.) in September.
The American Housing and Economic Mobility Act of 2018 provides an average of $50 billion per annum to alleviate the shortage of affordable homes. The ambitious plan would be largely funded by raising the estate tax to 2009 levels, a move that affects only about 10,000 of the wealthiest families, according to a bill summary.
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· Warren’s American Housing and Economic Mobility Act would see $500 billion invested over the next 10 years to “build, preserve, and rehab units that will be affordable housing.
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As the report marks its 30th anniversary, this year’s report suggests the housing market is overbought, immobile, and unequal. The influential Harvard think tank even believes the American housing sector is broken, as "income inequality has helped to fuel today’s housing affordability challenges."
It also seeks to expand the Fair Housing Act to strengthen anti-discrimination laws. The analysis determined that the legislation would build or rehabilitate more than three million units over the next decade and create approximately 1.5 million jobs.
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As described by Dylan Matthews at Vox, a team of researchers at Columbia University’s Center on Poverty and Social Policy analyzed five bills recently proposed by Democratic presidential hopefuls or likely hopefuls to see which bills would reduce poverty most efficiently. The team found that the bills expanding rental assistance are the most efficient, dollar-for-dollar, in reducing poverty.