HUD Secretary Echoes Rep. Fattah's Call to Revive Housing Trust Fund

Feb 10, 2014, 15:41 ET from Office of Congressman Chaka Fattah

WASHINGTON, Feb. 10, 2014 /PRNewswire-USNewswire/ -- Congressman Chaka Fattah (PA-02), a Senior Member on the House Appropriations Committee, lead Democrat on the Subcommittee on Commerce, Justice, Science and related agencies, and co-chair of the Congressional Urban Caucus, released the following statement on the recent call by Housing and Urban Development (HUD) Secretary Sean Donovan to revive the Housing Trust Fund (HTF):

"I am incredibly encouraged by HUD Secretary Shaun Donovan's recent call to support the Housing Trust Fund. Last May, I wrote to President Obama in support of the Fund and its potential to increase the path to home ownership and expand the availability of affordable housing in communities across America.

"The Housing Trust Fund was set up more than five years ago as part of the Housing and Economic Recovery Act of 2008—but has yet to be operational. Meanwhile, there are millions of Americans who cannot afford to purchase a home and would benefit from increased housing opportunities, loans, and subsidies.

"We have seen the impact of housing trust funds in 46 states across the country, as well as 600 cities, including Philadelphia. Now, as a country we must up our commitment to helping low-income, working families acquire affordable housing. It is long past time for the federal Housing Trust Fund to be appropriately funded, and I commend Secretary Donovan's leadership on this issue."

SOURCE Office of Congressman Chaka Fattah