Torres Re-Introduces Bill to Help Americans Find & Keep Homes During Pandemic

Press Release

Congresswoman Norma J. Torres (CA-35) today re-introduced the Keep Your Home and Prevent Homelessness Act, legislation she first introduced last year to help homeowners, renters and homeless individuals keep or find a home during the COVID-19 pandemic.

Torres' bill would allow the U.S. Treasury to invest at least $500 million -- and potentially billions of dollars -- that are left over from the 2008 TARP program. Under current law, these funds -- which are left over from the 2008 housing crisis -- will revert back to the Treasury. The Keep Your Home and Prevent Homelessness Act would instead allow the funds to be redirected into the National Housing Trust Fund(HTF), which is the first new housing resource since 1974 targeted to the building, rehabilitating, preserving, and operating rental housing for extremely low-income people.

Congresswoman Torres released the following statement:

"Throughout the Inland Empire and across the country, people are struggling to keep a roof overhead right now through no fault of their own," Rep. Norma J. Torres said. "Every person we keep in a home is one less person facing this pandemic without proper shelter. The legislation I am re-introducing today would do exactly that, and it would do it without requiring any new spending. I urge lawmakers from both parties to join me in supporting this common-sense solution to help shelter the vulnerable at a time when they need it most."

"Even before the pandemic, millions of America's lowest-income and most marginalized households struggled to pay rent, and now, these same families are at even greater risk of housing instability and, in worst cases, homelessness," Diane Yentel, president and CEO of the National Low Income Housing Coalition, said. "I applaud Congresswoman Torres for introducing common-sense legislation to expand the national Housing Trust Fund to build and preserve stable, affordable homes for renters with the greatest needs. Congress should pass this legislation as a down payment toward ending homelessness and housing poverty and as an initial step to address the longstanding racial inequities that stem from housing injustice."

Torres has long been an advocate for affordable housing, and has used her position on the powerful House Appropriations Committee and as Infrastructure Taskforce Chair for the NewDem Coalition to deliver relief for Inland Empire residents throughout the pandemic.

Prior to her time in Congress, Torres led efforts in the State Legislature to provide financial assistance to millions of California families negatively impacted by the great recession, helped secure $2 billion in federal funds for the "Keep Your Home California" program, passed the Homeowner's Bill of Rights, and authored legislation to accelerate the construction of affordable housing, help delinquent homeowners refinance their second mortgages, and make it easier for returning veterans to purchase homes.

The Keep Your Home and Prevent Homelessness Act is cosponsored by: U.S Representatives Mark Takano (D-CA), Jahana Hayes (D-CT), Grace F. Napolitano (D-CA), Filemon Vela (D-TX), Eleanor Holmes Norton (D-DC), Alcee L. Hastings (D-FL), Barbara Lee (D-CA), Bonnie Watson Coleman (D-NJ), Steve Cohen (D-TN), Betty McCollum (D-MN), Chuy Garcia (D-IL), Joyce Beatty (D-OH), Dina Titus (D-NV) and Frederica S. Wilson (D-FL).

The Keep Your Home and Prevent Homelessness Act is supported by: the National Alliance to End Homelessness, National Low Income Housing Coalition, Housing Association of Nonprofit Developers, National AIDS Housing Coalition, National Alliance on Mental Illness, National Association of Local Housing Finance Agencies, and the National Realtors Association.

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