Even If Congress Dithers, U.S. Housing Policy Pivots
As a presidential candidate, Joe Biden published ambitious plans for housing, including boosting funding, implementing various strategies to address discrimination in the housing sector and reversing Trump administration rules on fair housing.
Roughly nine months into Biden's administration, that work has begun in earnest.
Two bills being hotly debated in Congress could push that platform forward another huge step. The fate of both the infrastructure bill, known as the Bipartisan Infrastructure Framework, and the potentially much larger budget reconciliation bill, the Build Back Better Act, are in limbo. Both of them, but especially the reconciliation bill, promise major new funding for housing programs.
Yet even if neither bill musters the complete support of the wafer-thin Democratic majorities in Congress, and thus both fail to pass, federal housing policy is slowly shifting under the Biden administration, which has started the process of undoing Trump administration regulations and has kicked off initiatives of its own that don't require congressional approval.
Of the two bills, reconciliation would have the greatest impact on housing, even if the final version is smaller than the massive $3.5 trillion proposed by the administration, experts say. Lately, a ceiling of $1.5 trillion has been seen as most likely, should the bill pass.“We certainly hope that…
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