Congresswoman Maxine Waters (D-CA) Chairwoman of the House Committee on Financial Services, delivered the following statement at a subcommittee hearing on Housing, Community Development and Insurance entitled, “Persistent Poverty in America: Addressing Chronic Disinvestment in Colonias, the Southern Black Belt, and the U.S. Territories.”

Thank you very much Mr. Cleaver for this hearing. Over 1.7 million people in the U.S. live in rural counties experiencing persistent poverty. These rural communities face chronic disinvestment and population loss as housing, lending, and community development needs have gone ignored. We cannot continue to turn a blind eye, especially as inflation—driven in large part by rising housing costs nationwide—has exacerbated rural job loss, further entrenching persistent poverty in many communities. One year ago this month, the House passed the Build Back Better Act, which included historic investments for housing in rural America but not one single Republican Member supported it. I hope we can build bipartisan support for efforts to invest in affordable housing, especially in rural areas, and to effectively reduce inflation. And I hope as we go down this path, in the future, we can get some support from the Republicans. I yield back.

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