American Woody
  Elizabeth Warren's 

The American Housing and Economic Mobility Act 
will help bring down costs for renters and buyers.

 The Act:  Controls the cost of renting or buying a home by leveraging federal funding to build up to 3.2 million new housing units for lower-income and middle-class families – bringing down rents by 10% and creating 1.5 million new jobs according to an independent analysis from Moody’s Analytics. 

This bill will help address the shortage of millions of affordable homes nationwide by: 
 Investing $445 billion in the Housing Trust Fund to build, rehabilitate, and operate up to  
  2.1 million homes for low-income families, including in rural areas 

 Investing $25 billion in the Capital Magnet Fund, which will be leveraged 10:1 with private capital, to build more than 835,000 new homes and develop vibrant communities for lower-income and middle-class families. 

Investing $4 billion in a new Middle-Class Housing Emergency Fund, which supports construction of homes for middle-class buyers and renters where there’s a supply shortage and housing costs are rising faster than incomes. 
 Investing $523 million in rural housing programs to create 380,000 rentals and help 17,000 families buy homes. 

 Reduces the cost of housing across America by creating incentives for local governments to eliminate unnecessary land use restrictions that drive up costs. 

The bill puts $10 billion into a new competitive grant program that communities can use to build infrastructure, parks, roads, or schools. To be eligible, local governments must reform land use rules that restrict construction of new affordable housing. 

 Holds financial institutions accountable for providing access to credit for all Americans. Obligations under the Community Reinvestment Act (CRA) to provide credit to lower-income and middle-class communities are too weak. The bill extends the law to cover more financial institutions, promotes investment in activities that help poor and middle-class communities, and strengthens sanctions against institutions that fail to follow the rules. 

To offset the cost, the bill returns the estate tax thresholds to their levels at the end of the Bush Administration and institutes more progressive rates above those thresholds – changes that affect the wealthiest families.