Provisions in comprehensive housing bill include creation of down payment tax credit for first-time homebuyers and renter’s tax credit, strengthening and expanding of housing tax credits, and prioritized housing vouchers for children at risk of homelessness
Congressman Salud Carbajal (CA-24) joined Congresswoman Val Hoyle (OR-04) to introduce comprehensive housing legislation to implement a range of housing and homelessness policy solutions to make affordable housing more accessible for working families across the United States and combat the rise of children and families experiencing homelessness.
The Decent, Affordable, Safe Housing for All (DASH) Act, which is led by Senator Ron Wyden (D-OR) in the Senate, addresses the lack of affordable quality housing through policies like creating a new down payment tax credit for first-time homebuyers, expanding and improving housing tax credits, incentivizing the construction of more affordable housing, and supporting families with children who are at risk of becoming homeless by improving services and access to housing vouchers.
“I hear from my Central Coast constituents every single day about their concerns with the rising costs of housing and the lack of affordable options for them to live and raise a family. With a problem as big as our nation’s housing crisis, we need a big solution – and that’s why I’m proud to co-lead the DASH Act in Congress,” said Rep. Carbajal. “From strengthening tax credits for low income and middle-class households, to helping those experiencing or at-risk of homelessness, and much more – our legislation will help protect millions from losing their homes and help millions more put a roof over their head without breaking the bank.”
“I am proud to introduce the DASH Act which is a comprehensive bill that will help increase access to affordable housing for low- and middle-income families and take concrete steps to address homelessness. We have a housing crisis because there is a lack of available housing at all income levels and I’m proud to be introducing a bill to address that need. The DASH Act provides support and incentive to states and local communities to help provide needed housing solutions for families in Oregon’s Fourth Congressional District and across the state,” said Rep. Hoyle.
Some of the provisions of the DASH Act include:
- Creating a new $15,000 refundable downpayment tax credit for low and middle-income Americans purchasing their first home
- Creating a new Middle Income Housing Tax Credit and strengthening the existing Low-Income Housing Tax Credit, incentivizing the creation of affordable housing options for community residents who are at or below the area’s median income
- Creating a new Renter’s Tax Credit to support some of the 19 million American families who are rent burdened, spending more than 30% of their monthly income on rent
- Prioritizing Housing Choice Vouchers and expanding supportive services for families with children at risk or experiencing homelessness, recognizing the heavy impact housing instability can have on young children
- Incentivizing environmentally-friendly construction strategies and land use policies
The bill is projected to help build an estimated three million additional homes in the U.S. over the next decade.
“In a nation as wealthy as ours, no child should grow up without a roof over their head. It’s clear that people experiencing homelessness need a lot more assistance than is currently provided,” Senator Wyden, the author of the Senate version of the DASH Act, said. “Taking proactive measures to prevent homelessness in the future not only alleviates individual suffering but also saves taxpayer dollars. That’s why I’m proud to have introduced the DASH Act, and why I’m happy to have a partner in the House like Rep. Hoyle in the fight to increase affordable housing supply, invest in services for unhoused people, and expand homeownership opportunities for working families.”
A summary of the DASH Act can be found here.
The text of the bill can be found here.
Additional Background:
Congressman Carbajal is a member of the Congressional Renters Caucus, and is committed to ensuring every Central Coast family has access to affordable quality housing.
Last month, Rep. Carbajal announced $260,000 in federal grants to support housing and homelessness assistance programs on the Central Coast and $550,000 in grants from the Federal Home Loan Bank of San Francisco to help first-time home buyers on the Central Coast.
He also in November introduced bipartisan legislation aimed at improving housing access and affordability for Central Coast veterans, the Home for the Brave Act.
Last fall, construction on a new affordable housing community in Guadalupe began thanks in part to funding Rep. Carbajal directly secured in the 2022 federal budget.
Rep. Carbajal’s work in Congress has also delivered $4 million to support the operation of the Anderson Hotel in San Luis Obispo, which provides housing options to low income individuals in the region.
Rep. Carbajal is one of the co-authors of the Housing for All Act, a landmark bill that would provide ten years of new and increased funding for construction of new housing units, rental assistance, hotel and motel conversions, and more.
Rep. Carbajal originally introduced the Housing for All Act in 2022 alongside California Senator Alex Padilla and Representative Ted Lieu.
An interesting bit of real estate news for wat it’s worth
https://ktla.com/news/california/home-prices-to-rise-in-20-cities-and-fall-in-5/
Does the massive influx of illegal immigrants have any impact on housing for the legal residents of our country?
If an undocumented family can afford the rent/mortgage on local housing, should they not be allowed to move in just because of their immigration status? Sure, they’re competition in the housing market, but how do we address that? Ban them from renting/buying homes?
More people competing for limited resources will have an impact as there are only so many units available.
just bail faster-never mind the huge hole in the bottom of the boat
It seems that this bill primarily provides tax incentives to low and middle income buyers, which should make it easier for them to buy a house, e.g., a tax credit based on a house down payment. Also, it contains a tax credit based on rent, which should make higher rents more achievable. Sincere question: won’t this simply drive up prices even more in a way similar to when interest rates are low? I’ve heard that our real housing problem in Calif. is due to a supply shortage. If that’s true, shouldn’t we be supporting development instead to drive prices down? This proposed bill seems counterproductive.
Spend, spend, spend! What is the chances of this passing?
Where is the revenue for this coming form? Shouldn’t there be offsetting revenue?
Easy to hand out freebees hard to come up with offsetting revenue.
I see your point. But it looks to me like this bill is mostly about reducing revenue, i.e., giving tax breaks to low and middle income home buyers and renters. So I think what you’re saying is some spending needs to be cut to offset the reduced revenue, or else new revenue needs to be created elsewhere to compensate for the loss. Agree?
Yes that is the point. If you lower revenue you need to cut expenses or increase revenue elsewhere.
I just read through the current proposed tax deal. No mention of DASH. It contains expanding the child tax credit, restore the R&D tax credit and capital expense credit for businesses. As well as affordable housing development credits. To pay for it they would cut the employee retention credit. But there is concern the offset will not be enough.