The American Jobs Plan will address the affordable housing crisis
Posted On: June 1, 2021
President Joe Biden’s American Jobs Plan is investing in more than just jobs. The plan will focus on infrastructure, including the development of affordable, sustainable local housing. HUD Secretary Marcia Fudge calls it a once-in-a-generation investment in infrastructure, including housing.
“Our homes can serve as a bridge to greater opportunities and a better life,” says Fudge. According to her, investments must start at home if The United States wants to remain the World’s greatest nation.
Taking Care of Home
First, the American Jobs Plan will invest nearly $150 billion in HUD programs, providing the agency with the tools and resources it needs to build and modernize millions of affordable housing in communities nationwide.
Secondly, the plan will create thousands of good jobs in communities nationwide. These jobs offer free and fair choice to join a union for workers around the country building, upgrading, and retrofitting homes in their communities.
In addition to jobs, the plan creates more affordable housing and preserves more than one million public housing units. Many of these existing units are more than 50 years old. Many also have mold, lead paint, and other health hazards inside. Furthermore, this plan will use $3 billion to specifically fund the inspection and removal of lead-based paint from 175,000 affordable housing units.
Moreover, the American Jobs Plan also focuses on inclusion. The plan will develop more affordable housing for older Americans. According to HUD, more than half of renters over 65 spent at least 30 percent of their income on housing. The plan will also address the housing needs in tribal communities.
Finally, the plan will also address climate change. HUD plans to create more energy-efficient, climate-resilient communities. You can find a full breakdown of how the American Jobs Plan will address the affordable housing crisis here.
Taking Care of Communities
Of course, the American Jobs Plan will create jobs and more affordable housing options in urban areas. However, the plan does not exclude housing needs in rural areas. Many of America’s small towns face the same affordability problems as major cities, suffering from a combination of low-wage jobs and existing poverty.
Under the Biden Administration’s plan, HUD plans to devote $250 million towards a New Main Street Revitalization program. This program will provide funds to communities renovating downtown business districts. It will also add more affordable housing options while maintaining the area’s historic character.
Community redevelopment is also a big focus of The American Jobs Plan. The administration will use $10 Billion to support the creation of shared amenities, provide services, and spark economic activity. Moreover, a proposed Community Revitalization Fund will support transformational places to work and to gather. The fund would restore vacant buildings and improve access to natural areas, building new parks, community gardens, and removal of toxic waste.