HousingWire
A coalition of bicameral Democratic lawmakers in the Senate and House of Representatives have introduced a new bill on Monday that seeks to update the formula for determining the allocation of affordable housing vouchers to growing cities.
Sen. Ruben Gallego (D-Ariz.), a member of the Senate Banking Committee, has introduced the bill alongside Nevada senators Catherine Cortez Masto (D) and Jacky Rosen (D). Rep. Dina Titus (D-Nev.) is slated to introduce a version of the bill in the House. Known as the Housing Vouchers Fairness Act, the proposal seeks to update the voucher allocation formula used by the U.S. Department of Housing and Urban Development (HUD).
To address this, the bill would seek an additional $2 billion in funding for the Housing Choice Voucher (HCV) program. This would help to ensure that “the public housing authorities that represent the country’s 25 fastest-growing cities with a population of over 100,000 have the resources they need to procure enough vouchers to meet the needs of their populations,” the lawmakers explained.
The National Association of REALTORS® (NAR) also voiced its support for the proposal in a statement.
“Access to safe, stable housing is a fundamental need, and expanding HUD housing vouchers can give relief to communities across the country that are facing an affordability crisis,” NAR said in a statement. “REALTORS® have long advocated for policies that promote housing stability, affordability, and fairness, and NAR appreciates the leadership of Sen. Gallego in introducing this important legislation.”