In Her Letter, Rosen Laid Out Her Housing Policy Priorities, Highlighting The Need To Increase Affordable Housing, Reduce Barriers To Homeownership, And Expand Targeted Rental Assistance
WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) sent a letter urging Senate leadership and the Banking and Finance Committees to take action that will help lower housing costs for Nevadans. In her letter, Senator Rosen laid out her key housing policy priorities, emphasizing the need to increase tax credits to incentivize affordable housing development and home ownership, make more land available for responsible development, and invest in the housing workforce.
“Our nation is experiencing an unprecedented housing affordability crisis. With Nevadans facing high costs from the grocery store to the gas pump, surging housing prices are putting an additional strain on already-tight household budgets,” wrote Senator Rosen. “Congress must answer the call and enact meaningful legislation that increases the supply of affordable housing, reduces barriers to homeownership for first-time homebuyers and working families, and provides targeted rental assistance to help Nevadans find a safe and affordable place to call home.”
“While all communities are suffering, Nevada’s affordable housing crisis is particularly acute, as it has the greatest shortage of affordable units and is estimated to have the second-highest home prices in the country by 2030,” she continued. “Additionally, Nevadans face a unique challenge with more than 80 percent of land owned by the federal government, limiting the land available for development and creating an additional barrier to building homes affordably. While I am working to free up more land for responsible development through various public lands bills I have introduced, Congress must also ensure developers are in a position to build affordable homes on this land once it is made available.”
Specifically, Senator Rosen called for Congress to take the following actions:
- Enhance and expand tax credits to incentivize affordable housing production.
- Invest in existing housing supply programs to address the housing shortage.
- Reduce barriers to affordable and sustainable homeownership through down payment assistance and tax credits.
- Expand access to rental assistance for low-income renters.
- Increase federal resources for rural housing to help rural communities thrive.
- Ensure Tribal communities have access to federal housing resources.
- Invest in workforce development initiatives that will train the next generation of residential construction workers.
The full text of the letter can be found HERE.
Senator Rosen has been a leader in the fight to lower housing costs. Rosen is working to crack down on price gouging by corporate investors who drive up home prices by buying up housing stock through her Housing Oversight and Mitigating Exploitation (HOME) Act. Last month, she introduced legislation to bolster the housing construction workforce by creating a new grant program to fund housing construction education and skills training programs at community colleges and technical education schools. She has also urged the Department of Housing and Urban Development to increase the Southern Nevada Regional Housing Authority’s Housing Choice Vouchers allocation by 10,000 vouchers over five years.
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