October 07, 2022

New Dem Chair DelBene Applauds Biden Administration’s Announcement of Progress in Implementing its Housing Supply Action Plan

Increasing Affordable Housing & Lowering Housing Costs are Key Planks of the New Dem Action Plan to Fight Inflation

Today, New Democrat Coalition (NDC) Chair Suzan DelBene (WA-01) released a statement following the Biden administration’s announcement of actions to increase affordable housing supply and lower housing costs for Americans. New Dems specifically called for a final fix to the Low-Income Housing Tax Credit income averaging rule in our Action Plan to Fight Inflation.

“New Dems know access to affordable housing is paramount to Americans’ economic security and opportunities. That’s why the New Democrat Coalition called for policies to build more affordable housing, improve access to capital for homebuyers, and lower housing costs in our Action Plan to Fight Inflation and recent letter to President Biden. 

“We welcome the Biden administration’s actions to advance several pertinent New Dem recommendations to maximize the Low-Income Housing Tax Credit (LIHTC) program, incentivize better zoning, planning, and permitting practices, promote affordable housing development including through transportation and infrastructure programs, and improve federal financing for affordable housing development and preservation, including multifamily housing construction. These actions will help build more affordable homes and lower housing costs for American families and workers. New Dems look forward to continuing to work with the administration to close our nation’s affordable housing gap and addressing housing insecurity.”

This Congress, New Dems released a comprehensive action plan to tackle the urgent challenge of inflation. This plan takes a multi-pronged approach to lower prices including actions to lower the cost of housing and increase affordable housing development, as well as strengthening supply chains to addressing labor shortages, reducing trade barriers, and making everyday necessities more affordable. 

In August, New Dem Members, led by the NDC Infrastructure Task Force Co-Chairs Norma Torres (CA-35) and Carolyn Bourdeaux (GA-07) called on President Biden to take action to improve the Low-Income Housing Tax Credit, leverage federal funding and other programs to incentivize zoning reforms, and expand access to capital for home builders and potential homeowners. 

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