Title
Calling on the United States Senate to pass and the President of the United States to sign into law the National Affordable Housing Trust Fund Act of 2007.
Body
WHEREAS, Safe, decent, and affordable housing is the basic right of all Americans; and
WHEREAS, Affordable housing is at the heart of strong communities and stable neighborhoods; and
WHEREAS, The lack of affordable housing has caused homelessness, economic hardship, and other adverse effects for an untold number of men, women, and children in Philadelphia and throughout the United States; and
WHEREAS, The median home price in Philadelphia rose 8% from 2005 to 2006 while the median household income for Philadelphia is $33,229, well below the national median household income of $48,200 for the same period; and
WHEREAS, More than 50% of low-income households in Philadelphia pay over half of their incomes for housing; and
WHEREAS, The demand for affordable housing in Philadelphia exceeds the supply by at least 60,000 units; and
WHEREAS, In 2006, the waiting list for subsidized rent assistance under the Section 8 housing voucher program had 6,510 names, while the waiting list for public housing had 14,880 names; and
WHEREAS, Housing is an economic stimulus representing 23% of the United States gross domestic product; and
WHEREAS, The production of new housing and the preservation and rehabilitation of existing housing that is affordable for low-income individuals and families must be a national priority; and
WHEREAS, The goal of the National Housing Trust Fund is to produce, rehabilitate, and preserve 1.5 million units of housing over the next decade; and
WHEREAS, The National Affordable Housing Trust Fund Act of 2007 (S. 2523) was introduced in the United States Senate on December 19, 2007; and
WHEREAS, The United States House of Representatives passed H.R. 2895, the National Affordable Housing Trust Fund Act of 2007, on October 10, 2007; and
WHEREA...
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