Press Releases

Washington, D.C. – 11/5/25… Today, Reps. Mike Lawler (NY-17), Congresswoman Joyce Beatty (OH-03), and Young Kim (CA-40) introduced the Community Investment and Prosperity Act, a bipartisan bill to expand banks' ability to make community investments that promote public welfare and local economic development.

Under current law, national banks and state member banks can invest up to 15% of their capital and surplus in projects that benefit the public good, such as affordable housing, small business lending, and community revitalization. The Community Investment and Prosperity Act would increase that cap to 20%, empowering banks to direct more private capital into projects that strengthen local economies and create opportunities for families and small businesses.

“Community investment is essential to revitalizing neighborhoods, expanding affordable housing, and supporting small businesses. By giving banks the flexibility to responsibly invest more in the communities they serve, this bill helps drive economic growth and improves quality of life, particularly in areas that need it most,” said Congressman Lawler.

“Families across America are facing a housing crisis that demands creative, bipartisan solutions,” said Congresswoman Beatty. “This commonsense legislation will free up capital for historic investments in affordable housing, small businesses, and community development, delivering results for hardworking families.”

“When we give our banks the tools they need to invest in our communities, Main Street wins,” said Rep. Young Kim. "The Community Investment and Prosperity Act will help banks invest more in affordable housing and community development projects that create jobs and opportunity. I’m proud to join Rep. Lawler is leading this commonsense effort to strengthen our neighborhoods, empower community partners, and make the dream of homeownership more attainable for hardworking families,” said Congresswoman Kim. 

“We thank Rep. Lawler and Rep. Beatty for their work introducing legislation that would increase the discretionary Public Welfare Investments cap from 15 to 20 percent.  This commonsense solution would allow banks nearing the cap to increase their investments in projects that support low- and moderate-income communities, including affordable housing, dependent on approval from their primary regulator that preserves existing safeguards in the system,” said Erik Rust, SVP and Head of Government Affairs, BPI.

“We appreciate the leadership of Congressman Lawler, Congresswoman Beatty and Congresswoman Kim that will expand needed investments in affordable housing and community development projects,” said Robert Likes, President, KeyBank Community Development Lending and Investment, Affordable Housing. “We are strong supporters of this bipartisan effort that will help neighborhoods across America grow and thrive, and make housing more affordable.”

“Raising the PWI cap would help ensure the full potential of the recent historic Housing Credit expansion as part of One Big, Beautiful Bill,” said Affordable Housing Tax Credit Coalition CEO Emily Cadik. “Congress has already taken meaningful action to expand the Housing Credit, and lifting the PWI cap removes an outdated barrier to allow bank investors who would like to increase their investments in affordable housing to do so. We applaud Congressman Lawler for leading this effort to increase affordable housing supply at a time of staggering need.”  

“Banks are vital partners in building affordable housing and optimizing the Low-Income Housing Tax Credit and New Markets Tax Credit’s impact on communities through equity investments. Raising the amount of public welfare investments that banks regulated by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve can make will mean more potential for investments in affordable housing and economic development,” said Sarah Brundage, President and CEO of the National Association of Affordable Housing Lenders. “We applaud Congressmembers Lawler and Kim for introducing this commonsense, no cost proposal and we strongly urge Congress to enact it immediately as part of a bipartisan housing package.”

This legislation was introduced as companion legislation to a bipartisan bill led by Chairman Tim Scott (R-SC) and Senator Blunt Rochester (D-DE) in the Senate, which was included in the ROAD to Housing package and has been endorsed by the American Banking Association, the Bank Policy Institute, Key Bank, the Affordable Housing Tax Credit Coalition, and the National Association of Affordable Housing Lenders.

Full bill text can be found HERE.

Congressman Lawler is one of the most bipartisan members of Congress and represents New York's 17th Congressional District, which is just north of New York City and contains all or parts of Rockland, Putnam, Dutchess, and Westchester Counties. He was rated the most effective freshman lawmaker in the 118th Congress, 8th overall, surpassing dozens of committee chairs.

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