Affordable housing is a pressing concern for millions of Americans. The gap between housing costs and income levels continues to get even bigger. This election could influence the future of housing policies and the funds to help people who need housing programs for a very long time.
The current presidential candidates’ stances on housing will make a big difference in the lives of Americans. Their policies could determine the future of federal funding for affordable housing programs. For those concerned about housing stability, understanding these positions is very important.
The outcome of the election could also impact the enforcement of fair housing laws. It could shape anti-discrimination policies, changing the whole economy and influencing job growth and consumer spending.
For social workers and those assisting individuals in navigating these changes, the election is significant. So what will this mean for the every day American who needs affordable housing?
Affordable Housing is an Urgent Need in America
Affordable housing is a big concern in the United States. According to the National Low Income Housing Coalition, almost 10 million low-income families spend more than half of their income on rent. There is a shortage of affordable and available rental homes for extremely low-income households. In 2021, only 36 affordable and available rental homes existed for every 100 extremely low-income renter households.
Government-Funded Housing Programs: An Overview
Section 8 Housing Choice Voucher Program
The Section 8 Housing Choice Voucher Program, managed by the U.S. Department of Housing and Urban Development (HUD), provides rental assistance to low-income families, the elderly, and the disabled. Beneficiaries receive vouchers to help cover the cost of private market rent, promoting housing stability and affordability.
Public Housing
Public housing consists of government-owned properties that offer low-cost rental units to eligible families. This program aims to ensure safe and decent housing for those in need.
Other Assistance Programs
Other important programs are the Low-Income Housing Tax Credit (LIHTC), which incentivizes private developers to build affordable housing, and the Community Development Block Grant (CDBG) program, which helps fund local development projects.
Trump’s Housing Policies from His Last Term
During his 2017-2021 term, President Donald Trump’s administration made several changes to housing policies that impacted affordable housing:
Reduction in Housing Budgets: The Trump administration proposed significant cuts to the Department of Housing and Urban Development (HUD) budget. In 2017, the administration suggested cutting $6.2 billion, or 13%, from HUD’s budget, which included reductions in programs like Section 8.
Regulatory Changes: Trump’s administration tried to reduce regulations that they argued hindered housing development. This included stopping the Affirmatively Furthering Fair Housing rule, which was made to stop segregation and promote fair housing.
Opportunity Zones: Introduced as part of the 2017 Tax Cuts and Jobs Act, Opportunity Zones aimed to spur economic development and job creation in distressed communities. However, critics argued that the benefits did not significantly impact affordable housing and usually led to gentrification instead.
Current Democrat Policies on Affordable Housing
The Democratic Party, who has nominated Kamala Harris as it’s presidential candidate, proposes several policies aimed at addressing affordable housing:
Increased Funding for HUD: Democrats propose large increases in funding for HUD to help support existing programs like Section 8/Housing Choice Vouchers and to develop new affordable housing units. The proposal includes $100 billion in affordable housing investments.
Rent Relief Programs: Kamala Harris has been a proponent of rent relief programs to help families facing housing insecurity. Her plan includes a $100 billion investment over 10 years to provide rental assistance for low-income families.
Incentives for Affordable Housing Development: The Democrats advocate for tax incentives and subsidies for developers who build affordable housing. This includes expanding the Low-Income Housing Tax Credit (LIHTC), which has played a really big role in the construction of affordable housing units across the country.
The Impact of Election Outcomes on Affordable Housing
The outcome of the election will have a very large impact on the future of affordable housing in the United States. Here’s how each potential administration might influence this sector:
Under a Republican Administration: A continuation of Trump’s policies will probably lead to further cuts in HUD’s budget and less regulatory oversight. While this could reduce government spending, it may also result in fewer resources for low-income housing and increased challenges for those relying on programs like Section 8.
Under a Democratic Administration: Increasing funding and supportive policies for more affordable housing are likely to happen. Better rent relief programs and incentives for developers to create affordable housing could help some of the housing struggles that low-income families deal with. These policies may also help more equitable housing practices and reduce housing insecurity.
Policy Examples That Prove Affordable Housing Works
There are a lot of examples and studies that show the real benefits of affordable housing programs!
Success of the LIHTC: The Low-Income Housing Tax Credit has been successful in making millions of affordable housing units since it began in 1986. This program shows how targeted tax incentives can help grow the development of affordable housing .
Housing First Approach: Programs that focus on getting housing to homeless individuals without preconditions have shown a lot of success. These programs reduce homelessness and also improve the health of the community and decrease public spending on healthcare and emergency services .
Positive Outcomes from Section 8: Studies have shown that families receiving Section 8 vouchers experience improved housing stability and better outcomes for children’s education and health .
FAQs
What is Section 8 and how does it work?
Section 8 is a federal housing program that gives vouchers to low-income families, the elderly, and the disabled to help them afford safe housing from private landlords. Recipients pay a portion of their income towards rent, and the voucher covers the remaining cost up to a certain limit.
How did Trump’s policies impact affordable housing?
Trump’s policies involved major budget cuts to HUD and it changed regulations that tried to promote fair housing. These changes resulted in reduced resources for affordable housing programs and increased challenges for low-income families needing help.
What are Kamala Harris’s plans for affordable housing?
Kamala Harris advocates for increased funding for affordable housing, rent relief programs, and incentives for developers to build more affordable units. Her proposals include substantial investments to expand housing assistance programs and promote housing equity.
How does affordable housing help things like health and education?
Affordable housing policies help improve health by giving people better living conditions and reducing their exposure to hazards. They also help educational outcomes by making sure that children have a stable home, which helps with regular school attendance.
What challenges do affordable housing programs face?
Challenges include not enough affordable housing units, not enough funding, and government hurdles that delay people getting help who need it. Fixing these issues will need new laws and more funding.
What are some successful examples of affordable housing programs?
The Low-Income Housing Tax Credit has been successful in creating millions of affordable housing units. The Housing First approach has really reduced homelessness and helped improv health for participants. Section 8 has also shown many positive impacts on housing stability and children’s well-being.
Summary of Key Points
Affordable housing remains a critical issue in the U.S.: Many low-income families spend over half their income on rent, highlighting the need for effective housing policies.
Impact of the 2024 election: The election’s outcome could significantly influence affordable housing policies, federal funding, and enforcement of fair housing laws.
Trump’s previous policies: His administration’s budget cuts and regulatory changes affected affordable housing programs, with mixed outcomes.
Democratic proposals: Kamala Harris advocates for increased HUD funding, rent relief programs, and incentives for affordable housing development.
Examples of success: Programs like the LIHTC, Housing First, and Section 8 have demonstrated the positive impacts of affordable housing initiatives on stability, health, and education.