NLIHC urges Congress to invest in proven solutions to address the housing affordability crisis
What: National Low Income Coalition (NLIHC) President and CEO Diane Yentel will testify tomorrow, August 2, 2022, before Senate Banking Committee on the impact of the housing market on renters and communities, and proven solutions critically needed. The proposed solutions include robust federal investments in Housing Choice Vouchers, the National Housing Trust Fund and public housing, at the scale necessary to ensure that the lowest income and most marginalized people remain stably housed.
When: Tuesday, August 2, 2022 at 10:00 am ET
Who: NLIHC President and CEO Diane Yentel
Where: The event will be livestreamed at: https://bit.ly/3Qmrk9t
Why: This hearing is held amid record-high inflation and skyrocketing rents. Rent increases are affecting tenants nationwide, with median rents for two-bedroom apartments increasing nearly 18% in the last year. At the same time, costs for necessities like food and transportation have also increased, leaving low-income renters with increasingly tighter budgets and forced to make difficult tradeoffs in their budget, sacrificing childcare, medical care, and store bought food to maintain housing. Higher rents will result in increased homelessness and indeed already is in some communities throughout the country. The GAO has found that a $100 increase in rent is associated with a 9% increase in homelessness. If rents continue to rise unchecked, homelessness will soar, because we do not have a robust and permanent housing safety net to assist the lowest income and most marginalized people.
Additional Information: Immediately following the Senate Banking Committee hearing, NLIHC President and CEO Diane Yentel will participate in the White House Eviction Reform Summit, beginning at 12:30 pm ET. The event will be livestreamed.
Registration at: https://bit.ly/3cES7ir
For media inquiries and additional information, please contact Jen Butler, NLIHC senior director of media relations and communications, at [email protected].
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