The proposal to release Fannie Mae and Freddie Mac could yield $250 billion, intended for building homes for the American middle class and employing union workers. A revolving loan fund would be established for rental housing and homeownership, with any unused funds allocated to the national deficit after ten years. There is significant support for the bill, which aims to bridge the affordable housing gap for essential workers. This bipartisan initiative promises to create union jobs and stimulate local economies through affordable housing development.
Fannie and Freddie's release could recoup $250 billion, which should be used to build homes for the middle class and employ union workers, benefiting the economy and families.
The legislation aims to create a revolving loan fund for rental housing and homeownership, directing any unused funds toward the national deficit after 10 years.
The bill addresses the affordable housing gap for essential workers like police, firefighters, and teachers, who earn too much for affordable housing yet not enough for market rates.
Support for the proposal spans various organizations, making the Housing for US Act a bipartisan effort to stimulate affordable housing and create union jobs.
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