This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, Congressman French Hill (R-AR), the Chairman of the Committee, Congressman Emanuel Cleaver, II (D-MO), Ranking Member of the Housing and Insurance Subcommittee and Congressman Mike Flood (R-NE), Chair of the Housing and Insurance Subcommittee, issued the following statement on the introduction of a bipartisan housing bill entitled, the “Housing for the 21st Century Act.” This bill represents a momentous step toward increasing affordable home construction, by expanding local development opportunities and modernizing existing housing programs in communities across America. It also broadens access to homeownership, including for manufactured housing and small-dollar mortgages, protects borrowers and assisted families, enhances federal oversight of housing providers, and strengthens the development of affordable homes for families in both rural and urban communities.

Ranking Member Waters stated, “I am pleased that our Committee is finally taking the lead on advancing meaningful housing legislation. The Housing for the 21st Century Act reflects a shared recognition that our affordable housing crisis demands real solutions and coordinated effort. This is a historic moment for our Committee, and I commend Chairman Hill for his leadership, and Subcommittee Chairman Flood and Ranking Member Cleaver for joining in this effort. Under previous Republican Committee Chairmen, housing has either been ignored or put on the table for dismantlement. Through our partnership on this legislation, we are showing that housing is truly a bipartisan issue and that we can all come together to bring down costs and expand access to housing for all Americans.

I also appreciate the work of my Senate colleagues in passing the ROAD to Housing Act, some of which is included in the House bill. While I was disappointed ROAD was not included in the NDAA, there is clearly broad bipartisan support in both Chambers to advance housing legislation. Our legislation, the Housing for the 21st Century Act, builds on my lifelong efforts to create long-term affordability and opportunity in housing, and represents an important first step towards finally solving our housing crisis once and for all. I want to be clear, however, that today’s introduction is not a final product, as I know there are many more important, bipartisan ideas that I and other Members of the House will want to include as the bill advances.

Nevertheless, when we pass the Housing for the 21st Century Act into law, we will move closer to a future where every family, no matter their income or ZIP code, has a safe, stable, and affordable place to call home. I look forward to moving this bill through the Committee process and to the House floor as quickly as possible. Millions of renters, homeowners, elderly, veterans and people experiencing homelessness are counting on us to act with urgency.”

Chairman Hill said, “Our Committee is dedicated to finding new ways to foster a home building and buying environment where achieving the American Dream is in reach for our families across the nation. Our goal is to chart a path forward toward greater development capacity and a simplified regulatory framework. I’m proud to advance this package with Ranking Member Waters, Subcommittee Chair Flood, and Ranking Member Cleaver to tackle housing costs and access challenges for American homeowners and renters. We look forward to moving this bill through regular order and working with our Senate counterparts in the new year to get a bill signed into law that reflects ideas from both chambers and delivers real results for American families.”

Subcommittee Ranking Member Cleaver added, “The cost of living remains the most urgent challenge facing Americans in every region of the country, and tackling that crisis begins with bipartisan, comprehensive housing reform, Over the past year, Ranking Member Waters, Chairman Flood, Chairman Hill, and I have worked with Committee members on legislation that cuts unnecessary red tape, accelerates the development of affordable housing, and reduces costs for hardworking families. I’m proud of the bipartisan package we are introducing today and look forward to working with the House and Senate to advance critical housing legislation to the president’s desk.”

Subcommittee Chair Flood said, “As housing gets more expensive, the American Dream of homeownership is slipping away for working families. This package is the product of bipartisan work in the Financial Services Committee to address some of the core issues driving up the cost of housing. I want to thank Chairman Hill, Ranking Member Waters and my counterpart on the Housing and Insurance Subcommittee Ranking Member Emanuel Cleaver for working together to produce this strong, bipartisan package. I look forward to working with my colleagues to advance this legislation through the committee, move it across the House floor, and ultimately to get these critical reforms enacted into law.”

Click here for text of the bill.

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