Should Congress create a National Investment Authority and Fund to provide support for housing affordability and infrastructure?
The bill authorizes the Department of Housing and Urban Development (HUD) to provide grants, programs, and other support related to public housing, affordable housing preservation and construction, and mortgage access. The bill also establishes and funds the National Investment Authority (NIA), which must design, finance, and implement a strategy for long-term national economic growth and development. The NIA must select projects that coordinate the investment of public and private capital in equitable, inclusive, and sustainable growth of the economy. Furthermore, the bill establishes the National Infrastructure Bank (NIB) to implement the strategy by engaging in credit market activities that support public and private investment in critical public infrastructure projects.
Sponsor: Rep. Maxine Waters (Democratic, California, District 43)
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Opponents say
• At the time of research and publication, no official opponent statements were found. This does not necessarily mean that nobody opposes the bill, nor does it mean that statements won’t be made in the future.
Proponents say
• "Our nation is in the midst of a housing crisis, which has been decades in the making. Due to a consistent lack of investment in affordable housing under Democratic and Republican administrations, we now find ourselves at a crossroads. To this day, more than 580,000 people are experiencing homelessness, 10.5 million households are paying more than 50 percent of their income on rent, and more than 20 million mortgage-ready individuals are unable to realize their dream of homeownership. Without a stable home, children cannot thrive; without a stable home, families are forced to choose between a roof over their head and a meal; and without a stable home, many people lack the foundation necessary to plan for the future." Source: Rep. Maxine Waters (Democratic, California, District 43)
• "Public housing plays a critical role in our nation’s public infrastructure, providing families with a stable home and helping them gain access to other services, including education and health. When we invest in public housing, we help low-income families achieve self-sufficiency and improve life outcomes, but we also generate economic growth, bolster productivity, and positively impact support services while significantly decreasing costs." Source: Council of Large Public Housing Authority
