(Host) A new federal housing initiative patterned after one in Vermont has passed the U.S. House.
The National Affordable Housing Trust Fund is designed to rehabilitate and preserve 1.5 million units of affordable housing over the next decade.
Congressman Peter Welch voted for the initiative and he says it should help put home ownership within reach for more working people.
(Welch) “What we need to make housing available and affordable is a partnership. We need our local private construction folks building housing. But we need government to help on financing and with some of the original funds.”
(Host) Vermont’s Housing and Conservation Trust Fund was one of the models for the new fund.
Senator Bernie Sanders first proposed the bill when he was in the House. He’s now pushing a similar version in the Senate.
If it becomes law, the national fund would guarantee Vermont and other small states a minimum of $750,000.
AP Photo/Toby Talbot