[Hpn] Sanders Unveils National Affordable Housing Trust Fund Legislation

Morgan W. Brown morganbrown@hotmail.com
Wed, 27 Jun 2001 14:18:50 -0400

Below is a forward of a press release from U.S. Congressman Bernie Sanders 
(I-VT) Web site regarding the introduction of a bill in the House today 
(Wednesday, June 27, 2001) which would establish a "National Affordable 
Housing Trust Fund".

Following the forward are Web addresses for further information.

Morgan <morganbrown@hotmail.com>
Morgan W. Brown
Montpelier Vermont


-------Forwarded Press Release-------

Found at:


For Immediate Release, JUNE 27, 2001

Sanders Unveils National Affordable Housing Trust Fund Legislation

Congressman’s bill would triple affordable housing construction next year

WASHINGTON, D.C. -- Congressman Bernie Sanders (I-VT) today unveiled new 
legislation that he authored which would create a National Affordable 
Housing Trust Fund. At a time of a major housing crisis in Vermont and 
throughout the country, the fund would pump billions of dollars into 
affordable housing. Sanders, who is a senior member of the Housing 
Subcommittee of the U.S. House Sanders was joined at the press conference by 
Congresswoman Barbara Lee (D-CA), Congresswoman Karen McCarthy (D-MO), 
Congresswoman Lynn Rivers (D-MI), Congresswoman Stephanie Tubbs-Jones 
(D-OH), and Congressman Danny K. Davis (D-IL) who are all original 
co-sponsors of this legislation. Sanders was also joined by representatives 
from the National Low Income Housing Coalition, the National Coalition for 
the Homeless, the McAuley Institute and other affordable housing advocates 
who are strongly supportive of this bill.

Sanders said, “There are millions of people in Vermont and throughout this 
country who are finding it extremely difficult to afford the escalating cost 
of housing even if they are working full time. Anyone who has tried to rent 
an apartment or buy a house lately knows that rents and home prices are 
often going up and up – well beyond affordability. By creating the National 
Affordable Housing Trust Fund that I am proposing, we could triple the 
amount of affordable housing construction in this country next year. As a 
Member of the Housing Subcommittee in the U.S. House which has jurisdiction 
over this bill, I intend to do my best to see that this legislation is 

According to HUD, about 5.4 million Americans today are paying more than 
half of their limited incomes on housing or living in severely substandard 
housing. Since 1990, the number of families who have "worst case" housing 
needs has increased by 12 percent -- that's 600,000 more American families 
who cannot afford a decent and safe place to live. Sanders noted that for 
the many families living paycheck to paycheck one unforeseen circumstance - 
a sick child, a needed car repair, or a large utility bill - can send them 
into homelessness.

Sanders’ National Affordable Housing Trust Fund would be capitalized by 
using some of the surplus from the Federal Housing Administration (FHA). 
FHA, which provides mortgage insurance for many homebuyers, will accumulate 
a $26 billion surplus over the next ten years. The Trust Fund would provide 
monies to the states and to the non-profit housing community to construct 
affordable housing.

Sanders concluded, “To solve the severe housing crunch we are experiencing 
in my state of Vermont and other parts of the country is going to require a 
serious commitment on the part of the federal government. This National 
Affordable Housing Trust Fund is an important step toward meeting that 
goal.” Contact:
HELEN LANGAN at (202) 225-4115

---End of forwarded press release---

Wednesday, June 27, 2001, 1:00 pm, House Triangle: Sanders, Lee, Karen 
McCarthy, Rivers and Tubbs-Jones To Unveil National Affordable Housing Trust 
Fund Legislation:


National Housing Trust Fund news:


~~~Hosted at:

National Coalition for the Homeless (NCH):


National Housing Trust Fund (NHTF) Campaign Web site:



**In accordance with Title 17 U.S.C. section 107, this
material is distributed without charge or profit to
those who have expressed a prior interest in receiving
this type of information for non-profit research and
educational purposes only.**


-------End of forward-------

Morgan <morganbrown@hotmail.com>
Morgan W. Brown
Montpelier Vermont USA

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