Out of Reach
Statement of Senator James M. Jeffords
Release of the Out of Reach 2000 Report
September 20, 2000I am here today with Senator Kerry, Secretary Cuomo and the Low National Income Housing Coalition to release the "Out of Reach 2000" report. I would first like to thank the National Low Income Housing Coalition for all their hard work on this report and their dedication to ensuring safe and affordable housing for all.
Normally when making speeches or presentations Members of Congress will say they are proud or pleased to be there. However, it is difficult to be proud or pleased when the report we are releasing today shows that a substantial number of renters cannot afford the cost of basic rent in the United States.
This is an issue that resonates with many Vermonters. With some areas of my state having less than a one percent vacancy rate, finding affordable rents is becoming next to impossible for many hard-working Vermonters. This problem is not just limited to the more populated sections of my state, but can be found in every corner of Vermont. This report should be used as a wake-up call to Congress to pass legislation in the final days of the 106th Congress which will help address the housing crisis facing our country. I believe there are some positive steps we can take to help address this crisis before we adjourn for the year.
I am pleased to report that the Finance Committee is scheduled to consider legislation that contains two provisions I have advocated for that will help spur production of low-income housing in the United States. First it will increase the low income housing tax credit and provide a small state minimum for that credit. Second, the legislation will raise the private activity bond cap. When enacted, both of these provisions will help spur the production of new affordable housing in Vermont and all around the United States. I am optimistic that I can work with my colleagues in the House and Senate to get these two important provisions enacted into law this year.
I have also been pleased to work with Senator Kerry in developing legislation that would help to preserve affordable housing units and stimulate the production of new units. S. 1318, the Affordable Housing Preservation Act, will provide matching grants to States to help preserve affordable housing units. S. 2997, the National Affordable Housing Trust Fund Act, will provide for the development of affordable housing for low-income families. Congress can take a giant step forward to ensuring an adequate supply of affordable housing units for all Americans through passage of these two important bills. Preserving the affordable units we already have while stimulating the production of new units will help many hard-working Americans realize the dream of safe, decent and affordable housing.
As I said earlier, this report should serve as a wake-up call to Congress about the national housing crisis facing our country. It is incumbent on us to answer this call and pass legislation addressing this crisis before the end of the session.
Back to Out of Reach Table of Contents.
