MHP supports the national United For Homes campaign and H.R. 1213, the Common Sense Housing Investment Act. Both bring smart, fair change to the mortgage interest deduction to benefit homeowners and support state and federal-based solutions for the dire shortage of affordable rental housing nationwide.
- maintain the mortgage interest benefit for 98% of the Minnesotans who receive it now,
- extend the benefit to 16 million homeowners nationally who don’t itemize their taxes, and
- reinvest the savings into low income housing programs that will be permanently funded.
United for Homes is an advocacy campaign comprised of over 1,000 national, state and local non-profit and for-profit organizations, ranging from housing advocates to developers, faith communities to unions.
All of these organizations have a unified goal of securing ongoing funding for the National Housing Trust Fund (NHTF). The NHTF was established in 2008 as a means to expand, preserve, rehabilitate, and maintain the supply of rental housing affordable to America's poorest families.
H.R. 1213 COMMON SENSE HOUSING INVESTMENT ACT
The current vehicle for funding the National Housing Trust Fund is Minnesota Rep. Keith Ellison's bill, the Common Sense Housing Investment Act (H.R. 1213). This bill proposes converting the mortgage interest deduction into a tax credit. Not only will a credit put money in the pockets of more lower income homeowners, but it will also free up billions which would be used to fund the NHTF, Section 8 housing, Low Income Housing Tax Credits, and other low income housing initiatives.
Attached is a one-sheet with more detail on the impacts of the two initiatives on Minnesota, and why it makes sense to support them!
Whether you are a housing advocacy organization, a for-profit or non-profit developer, a faith organization, or a union, we encourage you to endorse United for Homes. Click here to be directed to the sign-up page. It only takes a minute to complete. Join the growing list of United for Homes endorsers today!