1. Meeting the Housing Needs of the Lowest-Income Households
Sonya Acosta
National Low Income Housing Coalition
July 14, 2019

2. A Severe Shortage for the Lowest-Income Households

3. The Need for Targeted Housing Resources

4. Extremely Low-Income Households Forced into Higher Cost Homes

5. The Lack of Housing Leads to Severe Cost Burdens

6. Low-Income Renters Are Disproportionately People of Color

7. Affordable Housing Shortage Is an Issue of Equity

8. Solving the Supply Shortage
The National Housing Trust Fund

9. The National Housing Trust Fund Provides the Needed Targeted Funding
Designed to increase and preserve the supply of rental housing for extremely and very low-income households
Up to 10% may also be used to support homeownership activities for first-time homebuyer
Created in 2008 through passage of the Housing and Economic Recovery Act of 2008
Funded through an annual assessment on Freddie Mac and Fannie Mae

10. Provides Targeted Funding to Those with the Greatest Needs
Must benefit households earning no more than 50% of area median income
90% for rental housing
At least 75% must serve extremely low-income households

11. Early Implementation In 2016, HUD allocated first $174 million
As of September 2018, about 1,500 homes were planned
443 serving homeless populations
347 serving people with disabilities
244 targeting elderly people
88 serving veterans
46 serving people re-entering the community from the criminal justice system

12. Opportunities for Expansion
American Housing and Economic Mobility Act
Introduced by Senator Elizabeth Warren (D-MA) and Representative Cedric Richmond (D-LA)
S. 787 and H.R. 1737
Provides $445 billion over 10 years for the national Housing Trust Fund
Would help build, rehabilitate, and operate up to 2.1 million homes
Includes additional resources for Native and rural housing and relief for high-cost cities
Would lead to an estimated 3.2 million new homes for low- and middle-class families

13. Addressing Renters’ Cost Burden
Renters’ Relief Tax Credits

14. Renters’ Tax Credits Relieve Cost Burden
The Rent Relief Act
(S and H.R. 2169)
Housing, Opportunity, Mobility, and Equity (HOME) Act
Sponsored by:
Senator Kamala Harris (D-CA)
Representatives Danny Davis (D-IL), Scott Peters (D-CA), and Jimmy Gomez (D-CA)
Provides a share of the difference between 30% of income and rent
Rents cannot exceed Fair Market Rent
Taxpayers earning less than $100,000
Maximum income increased to $125,000 in high-cost areas
Introduced in 115th Congress by:
Senator Cory Booker (D-NJ)
Representative James Clyburn (D- SC)
Difference between 30% of income and rent
Rents cannot exceed Fair Market Rent
All cost-burdened taxpayers eligible
Taxpayers can defer tax credit for 180 days and collect interest

15. National Low Income Housing Coalition
Sonya Acosta
Policy Analyst
National Low Income Housing Coalition