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The committee will come to order. I want to welcome everybody to todays hearing entitled americas Affordable Housing crisis, challenges and solutions. This is an important issue in this hearing will allow the committee to hear from experienced and welleducated witnesses that can provide more context on Affordable Housing policies and the sections of the tax code with the intent of mitigating this longtime set of problems in our society. As many of you are aware the last time we underwent a National Comprehensive revision of the tax code was in 1986. The passage of the tax reform act, that some...

Anking committee. Its an hour and 45 minutes. [inaudible] [inaudible conversations] committee on Housing Urban Affairs is called to order. Thanks to the two witnesses joining us. Home is more than four walls and a roof for the play and do their homework home as we plan for the future and build wealth. Home is millions of families during the middle class. Homes are an anchor in our lives for too many families are in the country home they can afford and build their life around feels out of reach. I hear it and ohio, hear from everywhere from people mine by the city similar to where i grew up in ...

Later in 1965 to combat poverty rebuilding our cities and making housing more affordable by all. Yet by every official measure, poverty and its consequences is as bad as 50 years ago. Poverty rate today is essentially unchanged from when hud was founded. Millions of more americans fall below the poverty mark, including an unbelievable one out of five children. This is shameful. Hud says its mission is to build quality Affordable Homes for all and yet, according to inflation figures, the median price of new homes as doubled and median rents have gone up by more than onethird. In other words, it...

Later in 1965 to combat poverty rebuilding our cities and making housing more affordable by all. Yet by every official measure, poverty and its consequences is as bad as 50 years ago. Poverty rate today is essentially unchanged from when hud was founded. Millions of more americans fall below the poverty mark, including an unbelievable one out of five children. This is shameful. Hud says its mission is to build quality Affordable Homes for all and yet, according to inflation figures, the median price of new homes as doubled and median rents have gone up by more than onethird. In other words, it...

Later in 1965 to combat poverty rebuilding our cities and making housing more affordable by all. Yet by every official measure, poverty and its consequences is as bad as 50 years ago. Poverty rate today is essentially unchanged from when hud was founded. Millions of more americans fall below the poverty mark, including an unbelievable one out of five children. This is shameful. Hud says its mission is to build quality Affordable Homes for all and yet, according to inflation figures, the median price of new homes as doubled and median rents have gone up by more than onethird. In other words, it...