Warren for Senate: [link removed]

You don’t need me to tell you this: housing costs are out of
control.

In almost every community — rural, suburban, urban — it’s getting harder
to rent a home and harder to put together a down payment.

Forty years ago, the average home in the Boston area cost about 4.5 times
the salary of a Boston Public School teacher. Today, that home costs
nearly 11 times a public school teacher’s salary.

For renters, it’s no easier. Rent in Massachusetts is now more expensive
than in any other state in the country. Between 2020 and 2021, rent in the
Commonwealth jumped a whopping 21%.

The cause of this crisis is not a secret: We don’t have enough housing.
It’s Econ 101. Across the country, we are over 7 million units short of
what we need. And in Massachusetts, experts say that we need at least
175,000 new housing units right now for everyone to have a place to call
home.

This housing problem is not going to solve itself. Local governments do
not have the resources to address the problem alone. State governments
cannot tackle this problem by themselves. Washington must act.

That’s why I’m introducing the American Housing and Economic Mobility Act
of 2024 alongside Senator Raphael Warnock, Representative Emanuel Cleaver,
and dozens of my colleagues in the House and Senate.

This bill is laser-focused on increasing the housing supply — for
first-time, first-generation homebuyers, renters, seniors, people with
disabilities, veterans, people with no homes, workers, students — pretty
much everyone who isn’t already rich and already a homeowner.

According to an independent economic analysis, my bill’s investment would
create or rehabilitate nearly 3 million housing units, and it would also
lower rents for middle- and working-class families by about 10% —
amounting to average savings of about $140 a month.

[ [link removed] ]If you’re ready to help pass this powerfully important legislation, add
your name to sign on as a grassroots co-sponsor. And let’s get it done.

[ [link removed] ]ADD YOUR NAME

In addition to providing federal investment, my bill also encourages local
innovation to build even more housing so that we can close the housing
gap.

It creates a new innovation fund, so if a community comes up with a good
idea to lower housing costs — whether it’s zoning reforms or reworking
inspection scheduling — they can get federal dollars to help make that
happen.

And as more housing is built, those federal dollars can be used to support
that new housing however the community wants: build a new elementary
school, construct a new T-stop, revitalize a decaying downtown — whatever
the community decides.

One more thing about the bill: it’s fully paid for. How? By making a few
changes to the estate tax so that America’s wealthiest give a tiny slice
of their millions and billions to fix this crisis. By bringing back rates
from the end of the George W. Bush Administration and setting slightly
higher rates for the richest of the rich, we can fully pay for this
investment in our country.

Now, maybe you can already hear the naysayers in your head, claiming
there’s no way we can get all this done.

But let me just say this: we have to get all this done. We need more
housing — and nothing we’re doing now is working. Every year, we’re
falling further behind, and prices are going up even higher.

So yes, I get it — the Republicans will fight us, and the billionaires
will try to block us, but you don’t get what you don’t fight for. It’s
time to come off the sidelines and make a big federal investment in
housing.

[ [link removed] ]The American Housing and Economic Mobility Act is the breakthrough
legislation we need to finally bring down housing costs and level the
playing field so working families everywhere can find a decent place to
live at a decent price. Add your name to say you support it.

Thanks for being a part of this,

Elizabeth







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