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NALHFA Calls on President Trump to Expand Investment in Affordable Housing

Posted By Administration, Thursday, February 1, 2018
[Washington, DC - 1/31/2018] In his State of the Union address last night, President Trump revealed information about the Administration’s infrastructure plan. Notably missing from his remarks was the expansion of affordable housing infrastructure. Affordable housing is a vital component to infrastructure investment, and the construction and preservation of our country's affordable housing stock will strengthen productivity and economic growth, promote economic mobility, and provide greater household stability and improved wellness outcomes.
The National Association of Local Housing Finance Agencies (NALHFA) is calling on the Administration to include affordable housing resources in any infrastructure package. Specifically, enhancements to private activity bonds will provide communities with the necessary resources to support homeownership opportunities and to facilitate low-income housing tax credit developments. Additional housing resources will address the growing need for more affordable housing and provide economic growth and opportunity across the country.
When communities do not have adequate affordable housing for their workforce, wages and productivity will suffer. The shortage of affordable housing in major U.S. cities costs our economy $2 trillion a year in lower wages and productivity and prevents low-income households from moving to areas with more economic opportunities. The affordable housing access obstacle prevents families from increasing their earnings and causes a slower GDP growth.
Access to affordable housing improves numerous aspects of a family's quality of life. Research shows that when a family has access to affordable housing, there is an increase in their economic mobility. Additionally, children receive numerous benefits from living in an affordable housing community in high opportunity areas. These children earn more as adults, live in better neighborhoods as adults, and are less likely to become a single parent. These children also do better in school and have greater opportunities to learn outside the classroom.
Furthermore, affordable housing infrastructure helps local economies and creates jobs by leveraging public and private funds to increase earnings, increase tax revenue, and put people to work. Building just 100 affordable rental homes can generate $11.7 million in local income, $2.2 million in taxes and other revenue, and can create 161 local jobs in the first year of construction.
NALHFA Executive Director Jonathan Paine stated, “Housing is a fundamental component to our nation’s infrastructure development. When communities lack the affordable housing resources they need, families suffer. NALHFA urges the Administration to include a robust expansion of the affordable housing resources available to local governments in any infrastructure package.” 

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