By Eugene T. Lowe
March 17, 2003

On March 5, Representatives Bernie Sanders (VT), Barbara Lee (CA) and Robert Simmons (CT) reintroduced National Housing Trust Fund legislation which would provide funds for communities to build, rehabilitate and preserve 1.5 million homes over the next 10 years. The bill, H.R. 1102, was introduced with 162 original cosponsors, and with more than 4,000 organizations endorsing the legislation.

The National Low Income Housing Coalition (NLIHC) spearheaded the national effort to pass a national housing trust fund during the 107th congress. Sheila Crowley, NLIHC President said of the bill: "The National Housing Trust Fund is an idea that has captured the enthusiasm of thousands of people across the country. We are certain that our great country has the resources to solve the very solvable affordable housing shortage."

Modeled after more than 270 state and local housing trust funds, the bill would help reduce the shortage of housing for the nation's poorest families and also provide an effective and efficient economic stimulus. The Millennial Housing Commission said in its report last year that it would take 250,000 units of housing a year for 20 years to meet the housing needs of low income households. As for economic stimulus, a recent study by the Center for Community Change says that a $10 billion investment in a National Housing Trust Fund would produce more than 368,000 jobs.

Conference President Boston Mayor Thomas M. Menino said of the legislation: "Housing costs continue to rise much faster than incomes, making it increasingly difficult for many working families to afford basic housing. As mayors from coast to coast recognize, the housing crisis is a national problem and it requires national action. That's why we have enthusiastically endorsed creating a national affordable housing trust fund..."

The National Housing Trust Fund legislation was introduced during the 107th Congress and for a short period was a part of H.R. 3995, the Housing Affordability for America Act of 2002. During a full committee markup a more limited version of the trust fund replaced Representative Sanders legislation. It was widely believed that Mr. Sanders' bill would prevailed when H.R. 3995 came to the floor. The congress, however, adjourned without considering any housing legislation last fall.

Commenting further on the reintroduced bill, Mayor Menino said: "Establishing a national housing trust fund would renew the waning federal commitment to affordable housing, address critical housing needs, put people to work, and provide a boost to an important sector of our economy. We hope Congress acts on this proposal quickly."