(TSN): Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez reintroduced the Green New Deal for Public Housing Act at the Capitol on Thursday. The need for fair housing rates is persistent throughout the country for millions of families whi can not afford to purchase a home. Blaming the housing crisis on Republicans, the New York Congresswoman said, "We know that Republicans would like to price everyone out of the housing market...It's time for them to get back to earth."
But lawmakers can't shoulder the full responsibility for the complexities of the housing crisis.
The real estate inventory to convert homes into affordable living spaces exists but greedy hedge fund and private equity firms are grabbing them. In states like Oregon some unhoused people can afford to purchase a home. There are not enough available dwellings. Generally, funding for building more government supported residences is lacking.
The proposed Green New Deal is primarily focused on changes to the Faircloth Amendment. Since 1999, the amendment has effectively blocked the Department of Housing and Urban Development from funding new public housing. The leaders are keeping attention on housing alongside the Green New Deal to ensure it is covered under the latest environmental policies.
The Green New Deal for Public Housing aims to decarbonize all of the nation’s public housing units – and build more of them – with an investment of between $162bn and $234bn over the next decade. In doing so, it would avert 5.7m tons of greenhouse gas emissions, the equivalent of removing 1.26m cars from US roads each year -- all while creating jobs and public the congresswoman said.