Republicans Advocate for Innovative Approach to Addressing Affordable Housing

Press Release

Today, the House Financial Services Committee held a hearing to examine proposed Democrat legislation that would infuse $92.1 billion into government housing programs, with no reform or modernization of these depression-era plans.

Republican leader of the committee, Patrick McHenry (NC-10), began by applauding Democrat's agreement with Republicans that addressing "barriers to advancing and promoting affordable housing at the local level are important topics," an issue Committee Republicans raised at the first hearing of this Congress. However, the Ranking Member went on to express his concern with the lack of reform and suggested if the Committee is going to examine a "proposal that would infuse $70 billion into public and assisted housing programs that we need to hear what should be happening for a 21st century modern model of government funded and assisted housing."

Congressman Sean Duffy (WI-7), Republican leader of the Financial Services Subcommittee on Housing, Community Development, and Insurance, went on to question Daryl Carter, Founder, Chairman and CEO of Avantha Capital, on the local barriers to affordable housing posed by "zoning and regulation" in different communities. Mr. Carter agreed with Congressman Duffy that if Congress were to put pressure on local communities to "streamline" processes, it would be more effective at addressing these burdens than Congress allocating more money to outdated programs.

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