Fading Presidential hopeful Bernie Sanders unveiled his “Housing for All” plan Wednesday; calling for $2.5 trillion in new spending to expand government programs for low-income Americans.
“In the richest country in the history of the world, every American must have a safe, decent, accessible, and affordable home as a fundamental right,” writes Sanders. “For more than 40 years, we have had an affordable housing crisis in America that has only gotten worse. In America today, over 18 million families are paying more than 50 percent of their income on housing, while last year alone the five largest banks on Wall Street made a record-breaking $111 billion in profits.”
“If we are serious about addressing the affordable housing crisis, we need to build millions of apartments and homes throughout the country that will remain affordable in perpetuity to prevent displacement and serve future generations. And when we do that, we will create millions of good-paying jobs in the process,” adds Bernie.
The new proposal calls for $1.48 trillion to “build, rehabilitate, and preserve” affordable housing across the United States.
It calls for an additional $400 billion to construct 2 million new “units” and $500 million for “development in rural areas.”
Read Sanders’ full plan here.