Menendez Highlights Strategies to Fight Rental Affordability Crisis

Press Release

U.S. Senator Bob Menendez (D-N.J.), a senior member of the Senate Banking, Housing, and Urban Affairs Committee, in today's hearing ""The Rent Eats First': How Renters and Communities are Impacted by Today's Housing Market," highlighted the current crisis facing low-income renters and his Livable Communities Act, legislation to incentivize the development of new affordable housing near existing mass transit.

"The National Low Income Housing Coalition's Out of Reach Report shows in stark detail just how hard it is for low-income renters to afford even modest housing. In my state of New Jersey, a median-income renter is barely able to pay for a one-bedroom home," said Sen. Menendez. "That's why I led the charge with my "Livable Communities Act,' which creates a federal grant program to incentivize the development of new affordable housing near existing mass transit. We need to address the affordable housing crisis in a way that doesn't exacerbate renters' other costs."

The Senator also highlighted the impact of the CARES Act eviction moratorium and the Emergency Rental Assistance Program, which saved millions of people from eviction. The American Rescue Plan also included Senator Menendez's bill to fund housing counseling services to help families stay in their homes.

Sen. Menendez has long been a leader in the fight build more affordable housing In August 2021, he introduced the "Livable Communities Act" that encourages local communities to partner strategically to develop bold, innovative solutions that reflect their unique character, while leveraging existing assets, including access to transit to help revitalize neighborhoods, spur economic development, create jobs, and address their affordable housing needs. In 2021, the Senator also secured $100 million to expand access to housing counseling and assistance services for millions of renters and homeowners struggling to remain in their homes amid the economic crisis created by the pandemic.

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