Legislative Session
Madam President, I first thank Senator Sanders for his passionate support for housing. He understands, having traveled the country and connected with so many people, that there is almost nothing more important--maybe nothing more important…
Madam President, I first thank Senator Sanders for his passionate support for housing. He understands, having traveled the country and connected with so many people, that there is almost nothing more important--maybe nothing more important to people's lives, to their material lives, than having a safe, accessible, affordable place to live.
And Senator Sanders mentioned that 25 percent of renters in this country pay half their income in rent, for housing costs. And one thing goes bad in their lives--their car breaks down, their child gets sick, they miss a few days of work because of a minor injury--and their whole lives can turn upside down. Senator Sanders recognizes that.
And the legislation we begin later in the week is such an important step, as the Presiding Officer knows as a member of the Banking and Housing Committee, that we are going to take on housing. So I thank Senator Sanders for that.
Madam President, I rise to urge my colleagues to support the budget resolution immediately after the infrastructure vote tomorrow.
I particularly am glad to see the Presiding Officer in the Chair today. Earlier I spoke on this floor about the infrastructure bill and her efforts--Senator Duckworth from Illinois, her efforts--to ensure disabled-access transit stops.
We still have far too many transit stops in this country in big cities like hers in Chicago and mine in Cleveland and Philadelphia and New York and all over that are not accessible, and that has got to be our mission.
I chair the Banking, Housing, and Urban Affairs Committee. Most people call it just the Banking Committee. In reality, it is the housing, banking, and transit committee. And that is our responsibility to move in the right direction, and we are moving there rapidly. And I thank Senator Duckworth for her work on that.
I want to talk not long. I know that Senator Cardin is awaiting and has been patient, and I believe that Senator Inhofe might be here too.
This week we have moved forward a bill to provide critical investments in transportation infrastructure. I am glad we are doing that. The next step is to address housing.
Nothing is more important than housing. As chair of the Banking and Housing Committee, I have held hearings about housing needs across the country. This committee, called Banking, Housing, and Urban Affairs-- most refer to it as ``Senate Banking''--has been mostly about Wall Street in the past and not nearly enough about housing. Those issues are changing.
I know Senator Cardin knows--and not just in Baltimore but in Western Maryland and everywhere, as in urban Ohio and rural Ohio--how important housing is. We hear repeatedly about the shortage of affordable housing, about wide disparities in access to home ownership.
This isn't just about a few coastal cities. We heard from mayors in Akron, OH; in Bozeman, MT, Senator Tester's State; in Tempe, AZ, about their housing needs. Their markets vary. In Bozeman, home prices are up 50 percent. It is almost impossible for a young family to find a place to live. In Akron, home values are sometimes too low to find financing, and banks tell us they can't make a profit on selling a $60,000, $70,000, $80,000 mortgage on a $60,000, $70,000, $80,000 house.
Their issues are different, but all three mayors told us they need the Federal Government to be a better partner in helping to invest in their housing and in their communities. Without housing investment, there cannot be economic growth. That is because housing--by any real definition, housing is infrastructure.
Where you live determines so much about your life: where your kids go to school, how far you have to go to work, what kind of jobs you get. It determines where you do your grocery shopping and whether you have access to fresh fruits and vegetables; whether your kids are exposed, as they are in far too many old neighborhoods--whether it is Appalachia, Southern Illinois, or whether in Ohio or whether it is Cleveland or Chicago--too often to hazardous lead or mold.
We saw over the past year that housing certainly affects our health. People's paychecks have not kept up with the cost of living, particularly the cost of rent.
Senator Sanders, earlier today--and this was before the pandemic, what he was talking about, that 25 percent of American renters pay more than half their income in rent. One thing goes wrong in their lives-- their car breaks down, their child gets sick, they miss 3 days of work because of a minor injury--and everything turns upside down for them. This is even more of a problem, of course, for Black and Latino renters, with little left over each month for food and medication, let alone saving.
It is not just renters. Today, more than one in five homeowners still pay more than one-third of their income in rent. And the Black ownership rate--this is pretty unbelievable. The Black ownership rate is as low as it was when, in 1968, this body finally passed open housing, finally passed fair housing.
The first Secretary of HUD, after we passed the fair housing law, was Senator Romney's father, George Romney. As hard as he tried--partly because the President, his boss, followed a southern strategy--he did very little in the end, could accomplish very little for housing equality.
We are the wealthiest country in the world. We have half a million people, including 100,000 children, without a place to stay on a given night.
The budget resolution on the floor tomorrow will finally make the investment we need to help more families find and afford a place that they can call home. Think of the word ``home.'
It helps us provide funding to make critical repairs to our Nation's public housing, to make it more sustainable, to save families money, to reduce harmful effects on our climate. It helps provide affordable places for families and seniors to rent, including in rural areas, and helps more families become first-time homeowners.
It will help communities invest in their neighborhoods, including Brown and Black communities who have been left out of our Nation's recovery. It will make their homes more resilient in the face of changing climate. Communities will have housing and transit investments that work together to bring down the cost of daily commutes, to reduce harmful effects on our climate.
With the resolution before us tomorrow, we have an opportunity to make people's lives better and to give local economies the chance to grow. We can expand access to affordable rentals. We will make it easier to purchase a home. We will put tradespeople to work in good- paying, often union jobs, building housing and making it safer and making it resilient.
I urge my colleagues to support this long-overdue investment in our homes, in our communities, and in our workers.
I yield the floor.