Conference Report on H.R. 3074, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2008

CONFERENCE REPORT ON H.R. 3074, TRANSPORTATION, HOUSING AND URBAN DEVELOPMENT, AND RELATED AGENCIES APPROPRIATIONS ACT, 2008 -- (House of Representatives - November 14, 2007)

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Ms. KAPTUR. I thank the chairman very much for the time, Chairman Olver and Ranking Member Knollenberg, for just a fantastic effort on this conference report. Let me say I rise in full support.

There are so many programs in it, such as our community development block grant program which helps over 1,180 communities across this country. We have been able to provide $3.79 billion in this bill, which is still, though responsible, $400 million less than we spent as a country in 2001, with many of our cities finding revenues on the decline or stuck because of the condition of the economy. So I know many of our mayors will welcome this.

I rise especially to point to the programs dealing with housing counseling, $250 million in this bill through the Neighborhood Reinvestment Corporation, dollars to be disbursed within the next 60 days to help parts of the country that are just suffering so greatly because of the home mortgage foreclosure crisis.

There is no more important form of savings that any American family can have than their home. What has been happening across our country is we not only have a negative savings rate, but now we have a $1 trillion housing crisis in which hundreds of thousands of people have lost their homes or are about to lose their homes. This $250 million that is included in this bill that will go through the Neighborhood Reinvestment Corporation for counseling will help to try to allow some of these families to retain their homes as these mortgages are reset.

Frankly, I have been so disappointed in HUD's just sitting on the dime. As FEMA sat on the dime as people drowned in Louisiana, we've got people drowning all across this country because they're losing their homes and there's been no action. So we hope that this housing effort will make a big difference in helping them to be able to maintain their largest form of savings.

Finally, Mr. Speaker, I wanted to mention the program for housing for special populations in this bill. There is a total of 7,500 vouchers for homeless veterans that are living in missions across this country, that are in our jails, that are on the streets. Surely we can do better than this as the American people. There are also 4,000 vouchers in the bill for the nonelderly disabled and another 4,000 vouchers for families with children, where children are separated from their families because the families have no housing. Ask yourself the question, how well will that child perform in school when their home situation is so uncertain that they don't even know where they're going to stay at night?

I think that this bill provides some important stimulus to the housing sector, and the funding that we have provided is certainly not enough in view of what we are facing as an economy as funds are drained away from our communities as a result of this subprime lending crisis, but at least we have done something in this bill to recognize that there ought to be dispatch in the subprime lending market, and if HUD can't do a very good job of it, then let's let the Neighborhood Reinvestment Corporation try to deal with these families that are dropping off the edge. I know that our mayors and those involved in housing for special populations will see this bill as a step forward.

I compliment the chairman of the committee and the ranking member for moving this legislation.

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