Boston Mayor calls for affordable housing
Boston Mayor Tom Menino is calling for Congress to institute a four-point plan to ease the nation’s housing shortage. In testimony before the Financial Services Committee of the U.S. House Subcommittee on Housing and Community Opportunity, Menino said that the strong economy has caused housing costs to skyrocket, pricing many middle- and working-class people out of the market.
Speaking on behalf of Boston and the U.S. Conference of Mayors, Menino said Congress should enact a plan developed by the bi-partisan Coalition for Affordable Rental Housing that calls for:
- creation of a new national housing production program;
- an increase in the low-income tax credit to help developers who build moderate-income housing;
- encouragement of more flexibility in federal programs designed to aid new homeowners; and
- the rewarding of cities and states with matching funds for housing investment.
“This is our chance to use our nation’s surplus wisely,” Menino said.