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$532 Billion Could Be Invested Towards Affordable Housing 

Senator Alex Padilla

U.S. Senator Alex Padilla (D-Calif.) (Photo Credit: Office of U.S. Senator Alex Padilla) 

U.S. Senator, Alex Padilla, announced back in February of this year a new federal housing and homeless legislation. The Housing for All Act of 2022 would invest almost $532 billion over ten years to address America’s affordable housing and homelessness crises.  

“Every person has a right to the dignity and security of housing,” said Senator Padilla. “As we continue to face historic affordable housing and homelessness crises, which have been exacerbated by the COVID-19 pandemic, it’s going to take all levels of government working together to rebuild a more inclusive and equitable society for all.” 

The new housing bill would authorize $45 billion for the National Housing Trust Fund for each of the fiscal years 2022 through 2031 of which $26 billion would be reserved for permanent supportive housing for people experiencing homelessness. It would authorize $2.5 billion for the 202 Supportive Housing for the Elderly Program and $15 billion over ten years for the COC (Continuum of Care) grants. 

The bill addresses housing shortage and homelessness, but it will also be investing in innovative community driven solutions such as Safe Parking Program Grants, The Eviction Protection Grants Program, Mobile Crisis Intervention Grants, and more. 

Section by section act available here. 

Latest Update from March 2022 

The act has been introduced but has not yet passed the House of Representatives. The bill has been referred to the respective committees that have provisions under the act including, The Committees on Financial Services, Judiciary, Energy and Commerce, and Transportation and Infrastructure. The only subcommittee the bill has been referred to as of now is that of Highways and Transit.  

The bill is endorsed by organizations and stakeholders including the National Alliance to End Homelessness, National Low-Income Housing Coalition, California Governor Gavin Newsom, California Housing Partnership, California Big City Mayors Coalition, California State Association of Counties, Matt Desmond of Princeton University’s Eviction Lab, LeadingAge, American Library Association, Eden Housing, Southern California Association of NonProfit Housing, and Los Angeles Family Housing. 

Current State of the U.S. Housing Shortage

Housing is considered affordable if it consumes less than 30% of a household’s income. Yet, nearly half of the 43 million renter households in the U.S. are housing cost burdened.  

The National Low Income Housing Coalition estimates the shortage for affordable housing available to low-income renter households in the U.S. to be 7 million homes. Texas currently ranks in the top 5 states with the most homeless population.  According to the United States Interagency Council on Homelessness, as of 2020, over 27,000 people are estimated to live in homelessness on any given day in Texas. All the while the COVID-19 Pandemic has only magnified the already existing housing crisis and increased those numbers. 

 There is no easy fix, but the research is clear, the lack of affordable housing is the root of America’s societal issues, including poverty, homelessness, educational disparities, and health care.  

Most of the groups affected by these issues are disproportionately the most vulnerable members of society such as low-income minority groups and domestic violence victims with children. Improving the affordable housing state of America can bring forth various opportunities for an improved society, economy, and the well-being of all local communities. 

 Portfolio Resident Services

Portfolio Resident Services is a nonprofit organization that serves to improve the quality of life for low to moderate income individuals, families, and senior citizens. We are uniquely positioned to provide flexible and scalable programming tailored for each community and its individual residents. Our overall mission is to serve as the voice for affordable housing in America. 

 To learn more about our services and contribute to our community impact, contact us today.