U.S. Senator Susan Collins is pleased to be an original cosponsor of legislation introduced in the Senate that sets a goal of producing, rehabilitating, and preserving 1.5 million housing units over the next ten years. The bipartisan “National Affordable Housing Trust Fund Act of 2007” is sponsored by Senators John Kerry (D-MA) and Olympia J. Snowe (R-ME).
Today, in Augusta, a resolution was introduced in the Maine State legislature supporting this important legislation.
“I commend leaders here in our state for their dedicated efforts to help ensure that decent, affordable housing is available for Maine families and for their support of this critical legislation. It is critical that we work together to address this growing crisis. That is why I am pleased to support a bipartisan effort in the Senate to increase accessibility to affordable housing,” said Senator Collins. “Studies show that 12 million Americans spend more than half of their annual income on housing. The lack of affordable housing is a terrible burden on so many families. This legislation would provide funding to help rehabilitate Maine’s aging housing stock, therefore making the dream of homeownership available and affordable for more residents.”
This legislation would establish funding streams for a National Affordable Housing Trust fund. At least 75 percent of the funds will be for housing for households that are extremely low income, earning less than 30 percent of an area’s media income.
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