$100 million to expand affordable housing. Her message comes as home prices across the country hit another record high in April.
Treasury Secretary Janet Yellen testifies during a Senate Appropriations Subcommittee hearing. The Biden administration is announcing new federal initiatives to increase access to affordable housing. When Biden signed his landmark American Rescue Plan Act into law in 2021, the bill had the Coronavirus State and Local Fiscal Recovery Funds program that included nearly $59 billion to states in flexible funding. Major cities across the countrynearly $7 billion of the SLFR funds toward affordable housing developments, according to the Brookings Institution.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: