Statement from The Greenlining Institute on Rep. Maxine Waters’ Leadership in Advancing Legislation to Advance Economic Equity, Confront the Housing Crisis, and Close the Racial Wealth Gap
Media Contact
Danielle Bell
SENIOR PROGRAM MANAGER FOR MEDIA RELATIONS
media@greenlining.org danielle.bell@greenlining.org(Oakland, CA) — The Greenlining Institute applauds the House Financial Services Committee and Representative Maxine Waters (D-CA) for introducing a bill package that advances a stronger, more equitable financial system, and a housing market where everyone has the right to a safe, stable, and affordable home.
In a slate introduced with colleagues on the House Financial Services Committee (HFSC), the Committee responds directly to gaps in existing laws that allowed the recent series of bank failures to occur. Greenlining is encouraged by her actions as Ranking Member to close these loopholes and hold the leaders of financial institutions accountable. These steps are essential to prevent future bank failures that disrupt our economy, and disproportionately harm communities of color and low-income communities.
In a separate slate of bills, Rep. Waters addresses our multiple housing and homelessness crises head on. The three bills – The Housing Crisis Response Act of 2023, The Ending Homelessness Act of 2023, and The Downpayment Toward Equity Act of 2023 – would together substantially increase federal support for affordable housing and renter assistance, transform the Housing Choice Voucher program into an entitlement while ending source of income discrimination, and begin to confront the racial homeownership gap through federal downpayment assistance for first-time, first-generation homebuyers.
This Housing Crisis Response Act alone would provide over $150 billion in affordable housing investments to expand rental assistance, invest in public housing, and create more than 1.4 million affordable, accessible homes.
Taken together, these bills demonstrate the potential of Congress to take decisive action to build a more just, more equitable future for all. As the country’s racial wealth gap balloons, prices continue to rise, and economic barriers continue to prevent fair and equitable access to housing, we need our leaders to take bold action to reform the unjust systems that created these problems.
Greenlining looks forward to continuing to support Rep. Waters and the HFSC as we work together toward a future with economic opportunity for all.
