Thread by @dianeyentel

Today, President Biden announces a Housing Supply Action Plan to help close the housing supply gap in 5 years.

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The administration’s commitment to using federal transportation funds to reduce restrictive local zoning laws, which inhibit construction of apartments and are often deeply rooted in racial exclusion, is especially promising.

The administration also will take actions to support manufactured housing, ADUs and small-scale developments, and will streamline and reform federal financing and funding sources to help lower costs and speed development.

The Biden administration also makes important commitment to ensuring that more government-owned supply of homes and other housing goes to owners who will live in them – or non-profits who will rehab them – not to large institutional investors.

President Biden continues to call on Congress to enact a reconciliation bill that includes #BBB’s targeted housing investments including: $25B for 300k+ new rental assistance vouchers; $65B to preserve public housing; and $15B in the national HTF.

As rents rise, homelessness increases, and public housing deteriorates, robust federal investments & actions are badly needed and long overdue. I commend @POTUS for taking significant action - but the administration cannot solve the crisis on its own.

Congress must also act w/similar urgency & quickly enact BBB’s transformative and badly needed housing investments.

Only through a combination of administrative action and robust federal funding can the country truly resolve its affordable housing crisis.

Here’s the Biden plan: whitehouse.gov/briefing-room/…