Housing Affordability
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Restoring the American Dream Through Housing Affordability For too many families across the Hudson Valley, the American Dream has become harder to achieve. Whether it's a young couple trying to buy their first home, a senior looking to downsize, or a teacher, police officer, firefighter, or nurse hoping to live in the community they serve, the rising cost of housing has put homeownership and affordable living further out of reach. That's why I've made tackling housing affordability one of my top priorities in Congress. The 21st Century ROAD to Housing Act is now law and represents the most significant update to our nation's housing policy in more than 30 years. As a member of the House Financial Services Committee, I was proud to help shape this landmark legislation and secure the inclusion of six bills I authored. This law takes meaningful steps to increase housing supply, reduce unnecessary barriers to construction, modernize outdated federal programs, strengthen accountability, and make homeownership more attainable for hardworking Americans. Why We Needed Action The housing crisis didn't happen overnight. For decades, America simply hasn't built enough homes to meet demand. At the same time, outdated regulations, lengthy permitting processes, and unnecessary federal requirements have driven up the cost of building new housing. Here in the Hudson Valley, families have felt the impact firsthand. Home prices have risen dramatically, rents continue to climb, and too many people are finding themselves priced out of the communities they love. I believe that if we want to make housing more affordable, we have to address the root of the problem by building more homes, modernizing government programs, and eliminating unnecessary obstacles that increase costs. What the 21st Century ROAD to Housing Act Does The law takes a comprehensive approach to making housing more affordable by:
Among its many reforms, the law streamlines permitting, expands the use of pre-approved home designs, modernizes manufactured housing regulations, strengthens community lending, and helps ensure families, not large institutional investors, have a fair opportunity to purchase a home. My Housing Priorities Are Now Law I'm especially proud that six of my bipartisan bills were incorporated into the final legislation. 1.) Community Investment and Prosperity Act My bill expands opportunities for community banks to invest in affordable housing, neighborhood revitalization, and community development projects that strengthen local economies. 2.) HUD Accountability Act Taxpayers deserve transparency. My legislation requires the Secretary of Housing and Urban Development to appear before Congress each year to explain how federal housing programs are performing and whether they're delivering results. 3.) Housing for America's Middle-Class Act Too many middle-income families earn too much to qualify for housing assistance but still struggle to afford today's housing market. My bill helps Congress better understand those challenges so we can develop policies that reflect today's economic realities. 4.) Improving Public Housing Agency Accountability Act Families living in public housing deserve safe, well-managed homes. My legislation increases oversight and transparency to help identify struggling housing authorities and improve conditions for residents. 5.) Improving Housing Access Act This bill examines the barriers seniors and individuals with disabilities face when trying to find affordable, accessible housing, helping Congress make informed improvements to federal housing policy. 6.) Superfund Area Facts and Exposure (SAFE) Act Families deserve to know whether they live near environmental hazards. My legislation improves transparency by studying housing located near Superfund sites and helping policymakers better understand the risks facing affected communities. A Bipartisan Solution to a National Challenge Housing affordability isn't a Republican issue or a Democratic issue; it's an American issue. The 21st Century ROAD to Housing Act demonstrates what Congress can accomplish when we focus on solving problems instead of scoring political points. This bipartisan legislation brings together practical reforms that will help increase housing supply, lower costs, and expand opportunity for families across New York and the nation. Looking Ahead While this law is a major step forward, our work isn't finished. I'll continue fighting for policies that make housing more affordable, expand homeownership opportunities, strengthen our communities, and ensure the next generation can achieve the American Dream right here in the Hudson Valley. When families can afford to live where they work, raise their children, and retire in the communities they love, our entire region is stronger. That's what this law is about, and that's what I'll continue working to deliver. |