Pelosi: 'Affordable Housing Trust Fund Will Pay Dividends for Generations to Come'

October 20, 2003

Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement today on co-sponsoring the National Affordable Housing Trust Fund, which provides development, rehabilitation, and preservation of decent, safe, and affordable housing for low-income families:

"The National Affordable Housing Trust Fund is an investment in our nation's families and communities that will pay dividends for generations to come. The trust fund will enable developers to rehabilitate and preserve at least 1.5 million affordable rental units over the next decade, while generating up to 1.8 million jobs and $50 billion in wages. It will give developers the leverage they need to secure additional public and private group funding.

"Millions of Americans pay up to 60 percent of their earnings on housing. Congress should help them secure the affordable, safe, and energy-efficient homes they deserve. Working families should not be forced to choose between housing, health care, food, and other basic needs.

"Democrats remain committed to improving the lives of hard-working Americans by building and rehabilitating housing for those who need them most. I am proud to join more than 200 of my colleagues in Congress, led by Congressman Bernie Sanders, to make the National Affordable Housing Trust Fund a reality."

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