U.S. bishops back trust fund for affordable housing

Published: 2007-07-12

WASHINGTON (CNS) -- The U.S. bishops are backing a bill that would create a national trust fund to build affordable housing. "The Catholic bishops support housing policies which seek to preserve and increase the supply of affordable housing and help families pay for it," said John Carr, the U.S. bishops' secretary for social development and world peace, at a June 28 press conference noting the bill's introduction in the House. "We must put in place a sustainable source of funds to build affordable housing," Carr said. "So many families cannot find or afford decent housing; many families must spend so much of their income for shelter that they forego other necessities, such as food and medicine," he added. The National Affordable Housing Trust Fund Act of 2007 was introduced by a bipartisan group in the House that includes Reps. Barney Frank, D-Mass., and Jim Ramstad, R-Minn. A July 19 hearing on the measure was scheduled by the House Committee on Financial Services, chaired by Frank. It will establish a National Housing Trust Fund, a dedicated source of funding for the production, preservation and rehabilitation of 1.5 million affordable homes in 10 years. At least 75 percent of the funds would be for housing for households that are extremely low income, earning less than 30 percent of an area's median income.

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