Political Quotes

“I think that is an important organization that knows and understands how much affordable housing we need in America and how this underlying bill addresses that by building over 200,000 more affordable units in the next 2 years. It really is a shot in the arm at a time when Americans know that the cost of their housing has gone up because we haven't built enough supply. And as my colleagues know, especially since the downturn of the financial crisis in 2008, that from big cities to actually small towns, the crunch of a lack of a housing supply has meant an increase in costs. That means it hurts the economy overall. Last month, the skyrocketing costs were the largest contributor to the 3 percent rate of inflation. So that is why we have an opportunity to do something about that tomorrow. We have the opportunity to do something about the rising costs of housing and to pass this legislation that will build more supply and bring down those costs. Now, I know our colleagues--this is a very bipartisan aspect of the legislation. They know that expanding supply works. A 2019 study by the DC Office of Revenue Analysis found that renters basically saved $177 per month for every 2,100 units built in the city per year. So, literally, you can do the math. When you don't build supply, you are just making everybody else's expenses go up. So why aren't we building more supply?…”