On April 30 the House Financial Services Committee (HFSC) held a hearing on Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock. The hearing featured discussion on Chairwoman Maxine Water’s (D-CA) draft bill, Housing Is Infrastructure Act of 2019, and testimony from:

  • Diane Yentel, President and CEO of the National Low Income Housing Coalition;
  • Adrianne Todman, CEO of the National Association of Housing and Redevelopment Officials;
  • Steven Lawson, Chairman of The Lawson Companies and representative from the National Association of Home Builders; and
  • Daryl Carter, Founder, Chairman and CEO of Avanath Capital, on behalf of the National Multifamily Housing Council and the National Apartment Association.

The draft legislation provides $92 billion for the following affordable housing and related programs:

  • $70 billion for the Public Housing Capital Fund;
  • $10 billion for the Community Development Block Grant (CDBG) program;
  • $5 billion for FEMA’s Predisaster Hazard Mitigation Program;
  • $5 billion for the Housing Trust Fund;
  • $1 billion for USDA Rural Multifamily Preservation and Revitalization Demonstration Program;
  • $1 billion for the Native American Housing Block Grant Program; and
  • $100 million for Single Family Housing Repair Loans and Grants.