New Bill: $2.5 Billion for Section 202 Housing

Legislation | November 22, 2019 | by Linda Couch

On November 21, House Financial Services Chair Maxine Waters (D-CA) and Senator Kamala Harris (D-CA) introduced identical bills, the Housing is Infrastructure Act. The bills would invest $100 billion in the construction of new affordable housing units and maintenance of existing subsidized housing.

On November 21, House Financial Services Chair Maxine Waters (D-CA) and Senator Kamala Harris (D-CA) introduced identical bills, the Housing is Infrastructure Act. The bills would invest $100 billion in the construction of new affordable housing units and maintenance of existing subsidized housing.

The bill includes $2.5 billion for HUD’s Section 202 Housing for the Elderly program. The bill would also provide $70 billion to address capital repair needs of the nation’s public housing stock; 33% of the nation’s public housing homes are led by older adults.

LeadingAge fully supports the bills. In a statement on the bills, LeadingAge President and CEO Katie Smith Sloan said, “The bills, which include $2.5 billion for the 202 program, acknowledge and address the great need for affordable housing for older adults and the criticality of federal resources to bridge the gap between what very poor older adults can afford to pay for housing and the reality of ubiquity high housing costs. LeadingAge is proud to support the bills.”

“We are in the midst of a housing affordability crisis across the country, caused in part by the lack of affordable and available rental units, rising rents, gentrification, and dilapidated public housing,” Chairwoman Waters said in a statement. “Too many Americans are fighting tooth and nail to keep a roof over their heads as our nation continues to face a housing affordability and homelessness crisis,” Senator Harris said upon the bill’s introduction.

The House and Senate bills, H.R. 5187 and 2951, have been referred to the House Committee on Financial Services and the Senate Committee on Banking, Housing and Urban Affairs, respectively.