NCRC and its members urge Congress to include new funding for affordable housing in any infrastructure plan
On Wednesday, April 28, 2021, President Biden addressed a joint session of Congress and described an ambitious plan to strengthen the nation’s infrastructure and expand our commitment to childcare, early childhood education and college. The speech, the first of his administration, called on Congress to take up and pass necessary legislative relief to ensure a shared economic recovery.
In response, Jesse Van Tol, CEO of the National Community Reinvestment Coalition (NCRC) made the following statement:
“We heard loud and clear that the American Rescue Plan, passed in March, is creating jobs, keeping food on the table, and providing loans to small businesses to keep their doors open. But there is much more to do.
“A once in a generation investment in infrastructure is needed, and the roads, bridges, modern power grid and other investments included in the American Jobs Plan will keep America competitive in a global economy and create good paying jobs.
“But infrastructure is not just roads and bridges. Housing is infrastructure. The nation is in the midst of an affordable housing crisis not seen in decades, and the nation’s childcare workers, service providers and other front-line workers will be the first to get shut out. A commitment to them means a commitment to affordable housing and a path to homeownership and the wealth-building it can provide. The American Jobs Plan contains $213 billion in new funding for housing to jumpstart the nation’s dwindling affordable housing supply that has shut out first-generation homeowners from the financial opportunity that comes with homeownership.
“In support of this important proposal, NCRC members met with the offices of over 100 Senators and members of Congress this week, ahead of our annual Just Economy conference. We urged them to ensure that affordable housing is included in the American Jobs Plan and any other infrastructure package taken up by Congress.
“We applaud the bold agenda laid out by the President, and urge Congress to take up and pass an American Jobs Plan that includes an investment in affordable housing and homeownership.”