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H.R. 2895, the National Affordable Housing Trust Fund Act of 2007, was introduced on June 28, 2007 by House Financial Services Chairman Barney Frank (D-MA) and 16 bipartisan original co-sponsors (8 Democrats and 8 Republicans).

Problem:
There is an acute lack of affordable housing and the need for a National Housing Trust Fund is well documented. Nationwide, there are only 6,187,000 homes renting at prices affordable to the 9,022,000 extremely low income renter households - a shortage of 2,835,000 homes. Not a single Congressional district has enough rental housing affordable and available to extremely low income families. Housing is considered affordable if it costs no more than 30% of household income.

Solution:
The National Affordable Housing Trust Fund Act of 2007 will establish a National Housing Trust Fund, a dedicated source of funding for the production, preservation and rehabilitation of 1.5 million affordable homes in 10 years. At least 75% of the funds will be for housing for households
that are extremely low income, earning less than 30% of an area's median income.

Action Needed:
Please contact your Representative immediately to ask him or her to become a co-sponsor of H.R. 2895 today. A strong showing of bipartisan co-sponsorship will help move the bill through the House quickly.

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