Bill Name: H.R. 2483
Congressional sponsors: Cathy McMorris Rodgers, Scott Peters
Americans are facing a housing affordability crisis. This is driven by a severe underproduction of housing. According to Up for Growth’s Housing Underproduction in the U.S. report, the U.S. fell 7.3 million homes short of meeting housing need from 2000-2015.
This undersupply of housing and the resulting affordability crisis are particularly acute in walkable, transit-served locations. Demand for these walkable, transit-oriented urban spaces has increased, but housing production has not followed, due in large part to artificial barriers.
47% of renter households are cost-burdened, paying more than 30% of their income to housing costs, in part because of housing underproduction. For many households, transportation costs represent the second largest expenditure, which can be lowered when these households gain access to high-quality transit services.
In order to ensure that FTA transit investments fulfill the original promise of a federal transit capital program that would “help shape as well as serve urban growth,” the Build More Housing Near Transit Act would direct the Secretary of the Department of Transportation to: