This year will be an important one for protecting and expanding the national Housing Trust Fund (HTF), the first new resource in a generation dedicated to building and preserving homes affordable to the lowest income people in America. More than 1,900 national, statewide, regional, and local organizations have signed onto a letter calling on Congress to dramatically increase funding to the HTF. If your organization is not already a signatory, endorse the campaign and sign the letter by filling out the online form here.
Both the Senate Banking Committee and the Trump administration are likely to unveil new proposals in the coming weeks to reform the U.S. housing finance system. These proposals will include dramatically altering or replacing Fannie Mae and Freddie Mac, the funding sources for the HTF. There will also be calls this year for significant new infrastructure investments, another opportunity to expand funding for the HTF. Housing – especially for the lowest income households – is infrastructure. Advocates should sign your organizations onto the letter and contact your senators and representatives today urging them to commit to expanded funding for the HTF as part of a broader commitment to housing affordability in any housing finance reform legislation and in any new infrastructure investment legislation.
There are also threats to ongoing funding for the HTF. The Federal Housing Finance Agency (FHFA) regulates Fannie Mae and Freddie Mac, and new FHFA Acting Director Joseph Otting recently signaled he would be considering “all options” when asked about funding for the HTF. Mark Calabria, President Trump’s nominee for FHFA director, gave promising answers to questions about protecting HTF funding at his confirmation hearing on February 14 (see related article in this edition of Memo), but until Dr. Calabria is confirmed and beyond, it remains crucially important for advocates to demonstrate robust support for the HTF.
Support the national Housing Trust Fund today at: https://bit.ly/2S9kSUM