[Congressional Record Volume 147, Number 173 (Thursday, December 13, 2001)]
[House]
[Page H10142]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         NATIONAL AFFORDABLE HOUSING TRUST FUND ACT, H.R. 2394

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Vermont (Mr. Sanders) is recognized for 5 minutes.
  Mr. SANDERS. Mr. Speaker, I am pleased to announce today that over 
1,700 local, State, and national organizations from throughout this 
country have endorsed H.R. 2394, legislation that I introduced last 
June, to create a National Affordable Housing Trust Fund. And I 
especially want to thank for their organizing efforts the National Low-
Income Housing Coalition for all of their help in bringing these 
organizations together around this terribly important issue.
  It is almost unprecedented to have such an outpouring of support from 
such a broad array of groups representing working people through their 
unions, business leaders, different religious affiliations, bankers, 
environmentalists, and, of course, affordable-housing advocates. This 
is perhaps one of the most significant grass roots campaigns to support 
legislation at one time and has helped us generate our already 126 
bipartisan cosponsors. I am here today on the floor of the House to 
thank all of the groups that have endorsed this legislation and to ask 
my colleagues to cosponsor this important and much-needed bill. We have 
come a long way in a short time; but obviously, we need to go further.
  A complete list of all of the groups that have endorsed this 
legislation can be found at the National Housing Trust Fund Campaign's 
Web site at www.nhtf.org. That is www.nhtf.org, for a complete list of 
all of the organizations that have endorsed the National Affordable 
Housing Trust Fund legislation.
  Mr. Speaker, experts from across the country have acknowledged that 
the issue of affordable housing has rapidly become a major national 
problem. That is true in my State of Vermont, and it is true all across 
this country. It is an issue in which millions of low-income seniors, 
the elderly, disabled, and families with children are increasingly 
unable to afford decent housing.
  According to HUD, about 5.4 million Americans today are paying more 
than half of their limited incomes, more than half of their limited 
incomes, on housing, or are living in severely substandard housing. 
Since 1990, the number of families who have ``worst case housing 
needs'' has increased by 12 percent. That is 600,000 more Americans who 
cannot afford a decent and safe place to live.

                              {time}  1600

  For these families living paycheck to paycheck, one unforeseen 
circumstance, a sick child, a needed car repair or a large utility bill 
can send them into homelessness.
  This crisis must be addressed. Every American must be entitled to 
decent, affordable housing. The question is where do we begin? 
According to the accounting firm of Deloitte & Touche, profits 
generated by the Federal Housing Administration are expected to exceed 
$26 billion over the next 7 years. H.R. 2394 would use the surplus to 
increase affordable housing by creating an affordable housing trust 
fund. According to housing experts, if the FHA surplus was used to 
build affordable housing, we could more than triple affordable housing 
construction next year and provide accommodations to more than 200,000 
families.
  Mr. Speaker, not only would a national affordable housing trust fund 
help solve the affordable housing crisis in the United States, it would 
also generate 1.8 million decent paying new jobs and nearly $50 billion 
in wages according to a recent study. As today's economy continues to 
sputter with layoffs up over 600 percent from last year, and as 
millions of Americans are paying 40 to 50 percent of their limited 
incomes on housing, the creation of a national affordable housing trust 
fund is needed more than it has ever been needed.
  Mr. Speaker, the bottom line here is that we can put Americans to 
work building the affordable housing that millions of our fellow 
Americans need, and we can accomplish two important goals at the same 
time. Number one, combatting the recession by putting people to work; 
and second of all, providing decent housing to the families that need 
it. This is a very important piece of legislation, and I am very proud 
that 1,700 different organizations, religious organizations, grassroots 
organizations, are supporting it. I ask my colleagues to support it as 
well.

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