AOC Proposes $30 Billion Social Housing Authority
Alexandria Ocasio-Cortez’s far-reaching bill in Congress would create a public alternative to private developers, in a bid to fill the immense affordable housing need.
Representative Alexandria Ocasio-Cortez’s bill would create a new social housing authority to bolster affordable housing development.
Photographer: Chip Somodevilla/Getty Images North AmericaDemocrats in Congress introduced far-reaching legislation on Wednesday to designate a new federal housing authority, one that would provide billions in funding and financing for affordable homes across the US.
The long-shot bill proposes a public alternative to private developers to meet the immense need for US affordable housing, especially for the nation’s poorest households. Under the legislation, a new social housing authority would function as both a bank and developer for resident-owned coops, community land trusts, public housing and other market alternatives.