On January 24, Senate Democrats unveiled their infrastructure plan: A Blueprint to Rebuild America’s Infrastructure. The $1 trillion plan aims to create over 15 million jobs, and addresses issues including broadband internet, downtown revitalization, water and sewer, schools, roads and bridges, and also includes investments for public and affordable housing.
Specifically, the section titled “Revitalize America’s Main Streets: $100 billion – Creating 1.3 Million New Jobs” mentions the $26 billion backlog of physical repairs needed in public housing.
In the section titles “Closing the Infrastructure Financing Gap: $10 billion – creating 1.3 Million New Jobs”, the plan proposes leveraging private capital through providing $10 billion as seed money in the form of low cost loans or loan guarantees and includes affordable housing as one recipient sector.
With a Republican president and Republican-controlled Congress, it is unlikely the Democratic plan will be adopted, however, it will be important to see what parts, if any, are taken under consideration by Republicans on any potential infrastructure legislation. While affordable housing is a prime topic for infrastructure reinvestment, it could also prove a tough sell considering Republicans’ plans to cut non-defense discretionary funding.