After months of being stalled, negotiations have restarted over a significantly scaled-down reconciliation package. Key leaders are focused on reaching a deal by the July Fourth recess and would need the support of all Democratic senators if they wish to be successful. As such, negotiations are currently focused on a bill that would reduce the costs of prescription drugs and work to address the deficit, climate change and inflation.
While housing investments are critically needed and would fight inflation, intel from Capitol Hill indicates this package, if finalized, will not include housing or any other social spending measures.
This is certainly unwelcome news when the housing supply shortage is at historic lows and millions of families are unable to afford the cost of home. This week, Habitat for Humanity International delivered a letter from CEO Jonathan Reckford to Senate Majority Leader Chuck Schumer expressing the urgent need for affordable homeownership supply investments. We continue to monitor the situation closely for strategic opportunities to make our message heard, but it is a tough road ahead for housing to be addressed this year.
We will keep you informed if anything significant develops and we appreciate all your efforts to elevate the need for home affordability across the country.
Vice President, Government Relations and Advocacy
Habitat for Humanity International