Common Sense Housing Investment Act (HR 6677)

Chief Author: Congressman Keith Ellison (MN-5)

  •  Changes Mortgage Interest Deduction to a flat 20% credit making the benefit more equitable and simpler
  • Lowers the maximum mortgage allowed from $1,000,000 to $500,000
  • Within the $500,000 cap, allows second homes and home equity lines of credit
  • Five-year phase-in
  • Increases home ownership by 2.5%
  • Created 1.2 million jobs
  • Generates $27 billion to invest in rental housing
    • $7.7 billion increase to Section 8 rental assistance
    • $2.5 billion to Public Housing Capital Funds
    • $1.4 billion increase to Low-income Housing Tax Credit
    • $15.4 billion to National Affordable Housing Trust Fund

from Press Release:

“We know kids do better at school and adults do better at work when they are stably housed,” Liz Kuoppala, Executive Director of the Minnesota Coalition for the Homeless said. “The affordable housing crisis is a school, work, and family crisis for a growing number of people in Minnesota and across the country.  We are grateful for Congressman Ellison’s leadership on the Common Sense Housing Investment Act – a bill to make targeted investments in affordable housing and rental assistance.”

 

Powerpoint Summary

New York Times Editorial: “Fight for the Housing Trust Fund” (Jan 12, 2013) 

Endorsers

(to add your organization’s name, email EndorseCommonSenseHousing@mnhomelesscoalition.org)

Minnesota Organizations

  • Minnesota Coalition for the Homeless
  • Metropolitan Consortium of Community Developers
  • Minnesota Public Housing
  • Amherst H. Wilder Foundation
  • The Bridge for Youth
  • Family Housing Fund
  • Minnesota Community Action Partnership
  • Metropolitan Interfaith Council on Affordable Housing
  • African American Leadership Forum (Minneapolis)
  • The Family Partnership (Minneapolis)
  • Minnesota Indian Women’s Resource Center (Minneapolis)
  • Listening House (St. Paul)
  • Hearth Connection (St. Paul)
  • Center City Housing Corps (Duluth)
  • CHUM (Churches United in Ministry) (Duluth)
  • One Roof Community Housing (Duluth)
  • Care and Share, Inc (Crookston)
  • Northland Counseling (Grand Rapids)
  • HOPE Coalition (Red Wing)
  • Range Transitional Housing (Virginia)

 

National Organizations

  • National Low Income Housing Coalition
  • Community Action Partnership
  • Corporation for Supportive Housing
  • Enterprise Community Partners
  • Stewards for Affordable Housing for the Future
  • National Alliance of Community Economic Development Associations
  • National Alliance to End Homelessness
  • National Center for Healthy Housing
  • National Law Center on Homeless and Poverty
  • National Leased Housing Association
  • National Manufactured Home Owners Association
  • PolicyLink
  • Mercy Housing
  • National Health Care for the Homeless Council