Issue Position: Housing Issues

Issue Position

I serve as the Chairwoman of the Financial Services Subcommittee on Housing and Community Opportunity. Increasing the availability, affordability, and safety of public housing is something that is close to my heart: I grew up in public housing in segregated St. Louis, Missouri during the 1940's and 50's.

Our nation is facing a massive shortage of housing, and homelessness is increasing. We have seen examples of public policy decisions that have left those in need out in the cold, particularly surrounding one-for-one replacement. In New Orleans after Hurricane Katrina, many of the destroyed public housing units have still not been rebuilt to meet demand. And very recently, 30,000 residents of East Point, Georgia -- about 75 percent of the population -- waited for Section 8 housing vouchers. Some people were injured while waiting, as it became clear that demand severely outnumbered supply.

To address shortage and affordability issues, I authored two pieces of legislation that have been passed by the Financial Services Committee and await full passage in the House: The Public Housing Reinvestment and Tenant Protection Act (H.R. 5814) and the Section 8 Voucher Reform Act (H.R. 3045).

As you read in the Wall Street Reform and Consumer Protection (INSERT HYPERLINK) section of this website, I have been working to help struggling homeowners avoid foreclosure and to help stabilize neighborhoods devastated by foreclosures.

I have also been looking out for first-time homebuyers and for homeowners who unexpectedly face mandates to purchase flood insurance.

When it was announced that the Federal Housing Authority's reserves had fallen below the two percent level required by law, I authored the FHA Reform Act of 2010 to preserve the FHA's funds and save taxpayers $2.5 billion over five years. I was pleased that the House passed my legislation, because the FHA remains the premier lending institution to help first-time homebuyers achieve the American dream.

The Federal Emergency Management Agency and the National Flood Insurance Program (NFIP) fall under the jurisdiction of my subcommittee. Flood insurance is an important protection for homeowners who live in floodplains and are at risk of flooding.

I wrote H.R. 5114 to improve NFIP and reauthorize it for five years, because NFIP remains the primary source of reliable, affordable flood insurance coverage for more than five million American homes and businesses. After many delays, which also resulted in my authorship of emergency extension legislation, the House passed this long-term reauthorization.

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