Biden’s Build Back Better plan promises $150 billion for housing affordability
“President Joe Biden’s Build Back Better plan sets aside $150 billion for housing affordability initiatives, a promise that — if adopted — would cast a lifeline to millions of renters and homeowners drowning in financial problems spurred by the pandemic.
The whopping $1.75 trillion spending plan, unveiled on Thursday after months of negotiating in Congress, would propel the construction and preservation of more than a million affordable housing units nationwide. It’s a win for many people experiencing housing insecurity but still represents a fraction of the previous $300-plus billion version of the plan, which would have built and protected over 3 million units.”