Urges Congress to include funding for affordable housing in "Build Back Better" legislation.
Impact
If adopted, SJR70 would primarily emphasize the need for significant investments in rental assistance programs and support for constructing, repairing, and preserving affordable housing units. The resolution calls for an expansion of rental assistance by $25 billion, aimed to assist an additional 300,000 households, alongside $65 billion dedicated to the repair of public housing and $15 billion for the national Housing Trust Fund. These provisions are intended to create a more accessible housing market for those most in need, addressing critical gaps in affordable housing availability.
Summary
SJR70 is a Joint Resolution urging the United States Congress to include robust funding for affordable housing in the federal 'Build Back Better' legislation. This resolution underscores the critical state of housing insecurity exacerbated by the COVID-19 pandemic, which has placed many New Jersey residents in jeopardy of foreclosures and evictions. The resolution highlights the disproportionate impact of the pandemic on marginalized communities, particularly people of color and low-income households, and emphasizes the urgent need for federal intervention to improve housing affordability and stability.
Sentiment
The general sentiment surrounding SJR70 appears to be positive, with strong support for enhancing affordable housing options. Legislators championing the resolution argue that it serves as a necessary measure to tackle the ongoing housing crisis, highlighting the significant economic hardships that families face. There is broad consensus among advocates and legislators that without federal support, many New Jersey residents will continue to face significant challenges in securing stable and affordable housing, particularly in light of ongoing economic pressures.
Contention
While there is significant support for SJR70, potential contention could arise regarding the federal allocation of funds and the efficiency of proposed measures to genuinely tackle the housing crisis. Opponents may question the long-term effectiveness of delivering assistance through existing rental programs, especially given past criticisms of chronic underfunding affecting such initiatives. Concerns over the sustainability of federal interventions and the need for comprehensive local and state-level strategies may also surface as the resolution progresses through legislative discussions.
Establishes the "jobs and housing act"; directs the private housing finance agency to develop and administer a jobs and housing pilot program to construct and preserve housing, including workforce housing, that is affordable to low and moderate income persons, and creates jobs for those who build and work in such housing.
Urges U.S. President and Congress to enact legislation comparable to "Eviction Crisis Act of 2019" and "Family Stability and Opportunity Vouchers Act of 2019."