Housing advocates are raising the alarm about House Republicans’ plan to dramatically cut the federal deficit to raise the debt ceiling.
FILE - In this June 9, 2021, photo, people hold a sign during a rally in Boston protesting housing eviction. Housing advocates are raising the alarm about House Republicans' plan to dramatically cut the federal deficit to raise the debt ceiling, warning that struggling families could lose access to rental aid.
Though House Speaker Kevin McCarthy’s legislation has virtually no chance of becoming law, Republicans hope it will force President Joe Biden to the negotiating table, where the GOP could seek concessions in return for lifting the debt ceiling and ensuring the U.S. Treasury can pay its bills. Due to high inflation and rising rents, voucher program funding needs to rise each year just to maintain the status quo, she said.
Rep. Chip Roy, R-Texas, a member of the conservative Freedom Caucus, agreed. “How much debt is too much?” Roy said of the national debt. “We have an obligation to actually limit spending, so we should get serious about doing it.” It’s much the same at the Financial Services Subcommittee on Housing and Insurance, helmed by Rep. Warren Davidson, R-Ohio. Of 74 bills introduced by GOP members, just, though a subcommittee hearing was scheduled for Wednesday on mortgages and housing affordability.
Cleaver has pushed for expanding tax credits for builders who construct low-income housing, which he thinks could gain bipartisan support and help tackle the ever-widening housing supply gap — realtor.com recently estimated the country is short 6.5 million homes. But, he said, the partisan rancor in Congress presents a significant obstacle.
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