During a hearing of the U.S. Senate Budget Committee, Rhode Island House Speaker Joe Shekarchi discussed the housing crisis enveloping many states – and asked for more federal help to address it.
With such an impactful and widespread problem, Shekarchi said, “I respectfully request that Congress provide states with greater funding mechanisms and grant opportunities to develop more housing to foster public-private partnerships.”
The Warwick Democrat called for expanding support for rental vouchers and downpayment support for first-time homebuyers.
With an audience of senators, Shekarchi made his pitch: “Rhode Island’s small size makes us the ideal partner for the federal government on housing issues. We are a nimble state. We have shown that we can quickly move on housing legislation. I come before you because we are ready in Rhode Island to act on this offer. We could become an incubator to pilot innovative, creative housing programs with the federal government.”
Since becoming speaker in 2021, Shekarchi has prioritized housing, and dozens of housing-related bills have become law since then. The state has allocated hundreds of millions of dollars meant to spur new housing, but Rhode Island remains in the early rounds of confronting its housing crisis.
The Ocean State faces a particularly pronounced housing problem, in part due to how housing starts fell into a prolonged decline in the 1980s.
The median cost of a Rhode Island home has almost doubled in recent years to nearly $500,000, and Shekarchi made the point that the situation afflicts a wide range of people.
“In Rhode Island, a household earning our state’s median income of $74,000 would not be able to buy an affordable house in any of our cities and towns,” he said. “These families include our teachers, nurses, firefighters, healthcare aides. These workers are the backbone of our community and they should be able to live in the communities they serve.”
The Senate Budget Committee is chaired by U.S. Sen. Sheldon Whitehouse, and he delivered the opening statement on the economic risks of unaffordable housing.
In his prepared remarks, Whitehouse said, “Americans across the country are paying the price for decades of disinvestment in our nation’s housing supply – a burden neither families nor our economy can continue to bear. Today’s witnesses will hopefully point the way towards creative solutions to our nation’s housing shortage.”
Sen. Whitehouse has introduced legislation to expand a low-income housing tax credit.
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Publish date : 2024-09-25 09:42:00
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