The White House has made it known that tackling inflation is its top economic priority, as Americans feel the heat ahead of the midterm elections. 🗳️
Last week, the Biden Administration introduced legislation targeting gas prices ⛽ and today introduced a new plan aimed at increasing housing supply. 🏘️
President Biden’s ‘Housing Supply Action Plan’ includes “legislative and administrative actions that will help close America’s housing supply shortfall in 5 years.“
Here are some key points from Biden’s plan:
- Rewarding jurisdictions that have reformed zoning and land-use policies
- Deploying new financing mechanisms to build and preserve more housing where financing gaps currently exist
- Expanding and improving existing forms of federal financing
- Allocating government-owned homes and other housing to owners who will live in them
- Working with the private sector to address issues holding back construction
The plan also urges lawmakers to pass current proposals that would include HUD grants to help increase access to affordable housing, among other things. ✔️
You can read the entire release here.