Discussion · House of Representatives
George Latimer Democrat
“Housing costs too much, and families should not have to spend over half their income on a home. I introduced two bills to create tax credits that help families pay for a mortgage and help seniors modify their homes. Congress should pass them to make housing more affordable.”
“Mr. Speaker, in New York and across the country, we are in an affordable housing crisis. According to the Federal Reserve Bank of Atlanta, a household in the New York City region making the median income would need to spend 65 percent of their income to afford the average home. No family should have to spend over one-half of their income on housing. That is why, this week, I introduced the Home Mortgage Interest Credit Act and the Senior Accessible Housing Tax Credit Act. These bills will create new tax credits on mortgage interest and home modifications to help families better afford homeownership and allow seniors to age in place. As a county executive, I worked to construct affordable housing units and deliver options for families looking to move to my home county of Westchester, but more action is needed. We must work toward a sustained, all-of-government approach through funding, tax policy, and regulatory reform to fully tackle this affordability problem. The bills I introduced today will deliver relief to young families taking on a mortgage to purchase their first home and to seniors who need to update the bathroom or install a ramp to allow them to age in place. While the President claims that no one cares about housing, I look forward to moving these commonsense proposals forward with my colleagues to make affordable housing available again.”
Mr. Speaker, in New York and across the country, we are in an affordable housing crisis. According to the Federal Reserve Bank of Atlanta, a household in the New York City region making the median income would need to spend 65 percent of their income to afford the average home. No family should have to spend over one-half of their income on housing. That is why, this week, I introduced the Home Mortgage Interest Credit Act and the Senior Accessible Housing Tax Credit Act. These bills will create new tax credits on mortgage interest and home modifications to help families better afford homeownership and allow seniors to age in place. As a county executive, I worked to construct affordable housing units and deliver options for families looking to move to my home county of Westchester, but more action is needed. We must work toward a sustained, all-of-government approach through funding, tax policy, and regulatory reform to fully tackle this affordability problem. The bills I introduced today will deliver relief to young families taking on a mortgage to purchase their first home and to seniors who need to update the bathroom or install a ramp to allow them to age in place. While the President claims that no one cares about housing, I look forward to moving these commonsense proposals forward with my colleagues to make affordable housing available again.