The foundation of the American Dream is to have a home to call your own. Unfortunately, the booming housing market in previous years allowed too many individuals to buy a home that they could not afford with loans that were not appropriate given their financial circumstances. Today, those individuals are facing foreclosure and the surrounding communities are seeing drastic drops in property values and taxes. In order to reestablish confidence in the housing market, it is important for me and my colleagues in Congress to support policies that provide assistance to at-risk homeowners and relief to negatively impacted communities.
An important way to assist homeowners is to ensure that they have access to transparent information regarding mortgages and credit. I voted in favor of legislation creating the Consumer Financial Protection Bureau (CFPB), an independent agency with a range of rulemaking, information-gathering, supervisory, and enforcement tools to regulate financial products such as mortgages and credit cards. I believe with adequate knowledge and protections, consumers can responsibly achieve the American dream of homeownership.
I will continue to focus on addressing foreclosures; an issue too many homeowners still face. Whether homeowners can no longer afford their monthly payments due to job loss or increasing adjustable rate mortgages, or they cannot sell their home because they owe more than it is worth, foreclosure rates may continue to rise for the near term. I will remain vigilant in finding solutions to avoid foreclosure and that continue to push for reforms to ensure that the American dream of owning a home remains attainable.
More on Housing
(Washington, D.C.) – Today, Congressman Albio Sires released the following statement after the House passed H.R. 133, the Consolidated Appropriations Act, 2021, which contains funding for the remainder of fiscal year 2021 as well as COVID-19 relief:
Last week, the House voted on the Conference Report to accompany the National Defense Authorization Act (NDAA) funding bill and a crucial stopgap funding bill to help avert a government shutdown while a larger package is negotiated. On Wednesday, I was honored to receive the In Defense of Christian’s 2020 Congressional Champion Award. I cosponsored legislation to protect providers from Medicare cuts in the midst of the pandemic, help those people facing eviction, support children with disabilities, and supporting human rights across the globe.
This week, the House voted on legislation to protect big cats from hostile internment, establish community advantage loan programs to help small businesses, and federally decriminalize marijuana. I also led a letter to House leadership highlighting the impact of COVID-19 on the affordable housing crisis in New Jersey and asking them to include relief measures in the next relief package.
This week, I joined the Housing and Community Development Network of New Jersey to discuss affordable housing in the 8th District. I introduced legislation to support our economic partners in Latin America and the Caribbean and cosponsored legislation to provide Personal Protective Equipment (PPE) to schools, get surplus computers to our nation’s veterans and students, and reaffirm our commitment to marriage equality.
This week, the House was back in Washington, D.C., to vote on critical stimulus legislation to aid the economy and the hard-working American people during this continuing public health emergency. I also attended Committee reviews of legislation for the House Transportation & Infrastructure Committee and the House Foreign Affairs Committee.
This week, I participated in virtual hearings for the House Committee on Transportation and Infrastructure, the House Budget Committee, and the House Committee on Foreign Affairs. I also signed onto legislation to help ensure the short and long-term accessibility, safety, and affordability of housing. Additionally, I signed onto letters to promote clean air in communities across the country, extend the payroll support program, and to direct the Department of Justice (DOJ) to protect the Affordable Care Act (ACA) during our current public health emergency.
This week, I traveled back to Washington D.C. to vote for important legislation to expand access and affordability to healthcare, provide housing and rental relief to homeowners and renters, and upgrade our country’s infrastructure. I also chaired a Western Hemisphere hearing on the Administration’s response to COVID-19 in Latin America, and attended a Foreign Affairs Committee hearing on Hong Kong.
(Washington, D.C.) – Last night, Congressman Albio Sires (D-NJ) voted in favor of H.R. 7301, the Emergency Housing Protections and Relief Act, which passed the House of Representatives by a vote of 232-180.
This week, the House of Representatives considered a fourth stimulus package, H.R. 6800, the Heroes Act. I pushed for the inclusion of critical policies in this legislation as well as future packages considered by Congress.
Last week, our community’s 2020 Census self-response rate rose 3 points to 48.1% of the 8th District. This is encouraging, but we still have plenty of work to do to catch up with New Jersey at 59.4% and the country at 57.7%. Millions of dollars in federal funding depend on each of our timely responses.
This week, I continued to work on the comprehensive elements of our government’s coronavirus response. The following is an overview of policies my colleagues and I support as Congress works on the next coronavirus legislative package.
Additionally, the 8th District remains behind the state and national self-response rates for the 2020 Census. As of this week, our community is only at 45% completion, trailing New Jersey at 56.3% and the country at 54.6%. To receive the millions of dollars in annual funding our community deserves, we all must do our part and be counted.