AOC and Senator Smith Unveil Ambitious Social Housing Bill

The proposed legislation aims to address the housing crisis by building over a million permanently affordable homes with federal funding.

The Homes Act, introduced by Rep. Alexandria Ocasio-Cortez and Sen. Tina Smith, seeks to establish a federal housing development authority within the Department of Housing and Urban Development.
The bill proposes constructing and rehabilitating 1.25 million homes, with 40% reserved for extremely low-income residents and 30% for low-income households.
Rents for these homes would be capped at 25% of tenants' incomes, and the homes would be managed by local entities such as nonprofits, housing associations, and cooperatives.
The legislation aims to provide federal funding for social housing, drawing inspiration from successful models in European cities like Vienna and local examples in New York and Minnesota.
The initiative comes amid rising housing costs and is part of a broader progressive push for social housing, with significant attention expected as the 2024 presidential election approaches.