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Atlanta Civic Circle Housing Affordability

Biden’s Build Back Better plan promises $150 billion for housing affordability

US capitol Washington D.C. Credit: Sagittarius Pro via istockphoto

President Joe Biden’s Build Back Better plan sets aside $150 billion for housing affordability initiatives, a promise that — if adopted — would cast a lifeline to millions of renters and homeowners drowning in financial problems spurred by the pandemic.

The whopping $1.75 trillion spending plan, unveiled on Thursday after months of negotiating in Congress, would propel the construction and preservation of more than a million affordable housing units nationwide. It’s a win for many people experiencing housing insecurity but still represents a fraction of the previous $300-plus billion version of the plan, which would have built and protected over 3 million units.

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