U.S. Senate Reverend Raphael Warnock is introducing new legislation aimed at providing more affordable housing in the nation. Warnock discussed the American Housing and Economic Mobility Act on Thursday. Warnock said the measure would create nearly three million new housing units and reduce rents by 10 percent for American families. It would be paid for by targeting the estate tax.
“This bill will help bring down costs for renters and buyers and level the playing field so working families everywhere can find a decent place to live at a decent price,” according to Warnock. “The costs of this historic effort will be offset by ensuring the wealthiest top percent of earners pay their fair share and give back to the communities that made their success possible.”
Additionally, the bill would push for local governments to make changes to the way they allow for housing in their communities.
“By encouraging municipalities, whether they are rural or urban, to get rid of some of these unnecessary barriers to building housing. We will incentivize local municipalities to do that.”
The Senator said Georgia lost 7.5 percent of it hosing inventory from 2023 to 2024, one of the largest decreases in the nation.
