Wyden backs bill to build homes for working families, introduces bill to ban lavish gifts to Supreme Court justices
WASHINGTON (KTVZ) -- Senator Ron Wyden said Thursday he is cosponsoring legislation that would provide tax credits to generate incentives for new investments and additional resources for single-family home construction and renovations for working families in Oregon and nationwide.
Senator Martin Heinrich, D-N.M., who led the New Homes Tax Credit Act, released a report on housing supply in America, which found that underbuilding, restrictive zoning policies, and home financing hurdles have caused the supply of starter homes to shrink and prices to rise. High interest rates and mangled supply chains have also contributed to increased home prices. The legislation would address the lack of housing inventory for individuals and families whose incomes are up to 120 percent of the area median income, particularly in areas where middle-income families have historically been priced out.
“Democrats are focused on attacking the cost of living, and with rents and home prices climbing every year, the key to solving our housing crisis is to build, build, build. That’s what this bill is all about,” said Wyden. “The housing crisis is no longer just about big cities like Portland, it’s all over Oregon and the entire country – urban centers, suburban communities, even a lot of rural areas. Congress needs to look at every available solution that’ll get more housing built so that families don’t have to break the bank to pay the rent every month.”
The New Homes Tax Credit would be administered under the Community Development Financial Institutions Fund. That fund certifies Housing Development Entities, which can be Community Development Financial Institutions, government and quasi-governmental entities, or non-profits. Following certification, Housing Development Entities will use the capital raised from exchanging their tax credits with investors to provide funds for construction companies that build or renovate single-family homes.
Along with Wyden, The New Homes Tax Credit Act is cosponsored by Senators Peter Welch, D-Vt., and Chris Van Hollen, D-Md.
The legislation is supported by the Mortgage Bankers Association, National Association of Home Builders, National Association of Realtors, Housing New Mexico, Homewise, Yes Housing, Inc., and Strong Towns Albuquerque.
The text of the bill is here.
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Meanwhile, Senator Ron Wyden said Thursday he is cosponsoring legislation that would ban Supreme Court justices from receiving gifts valued at more than $50, aimed at strengthening the ethical standards of the Court.
Senators Ben Ray Luján, D-N.M., and Peter Welch, D-Vt., led the introduction of the High Court Gift Ban Act. In addition to Wyden, Senators Chris Van Hollen, D-Md., Alex Padilla, D-Calif., and Jeanne Shaheen, D-N.H., cosponsored the bill. Representatives Alexandria Ocasio-Cortez, D-N.Y., and Jamie Raskin, D-Md., introduced companion legislation in the House.
“American democracy can only work if the public has trust in its institutions,” said Wyden, who recently introduced sweeping reforms to restore public trust in the Supreme Court. “With more and more Supreme Court ethics violations being uncovered, the public’s trust in the Court has been shaken to its core. It’s not just unacceptable but morally wrong that those sitting on our nation’s highest court can get away with accepting lavish gifts from just about anybody. Supreme Court justices should be held to the same standards as other federal officials so that faith can begin to be restored in one of America’s most powerful institutions.”
Under current law, Supreme Court justices are not held to the same restrictions on accepting gifts that apply to members of Congress, federal judges, and other federal officials. A recent analysis by Fix the Court estimated that in the last two decades, Supreme Court justices have accepted hundreds of gifts valued at nearly $5 million.
The High Court Gift Ban Act does the following:
- Bans Supreme Court justices and all 2,300 lower court judges from receiving gifts valued at more than $50 in a single instance or more than $100 in aggregate in a year;
- Caps gifts of personal hospitality, which are currently unregulated, at a value equal to the tax threshold for personal gifts, currently about $18,000;
- Contains exemptions in line with those for members of Congress;
- Enforces prohibitions by requiring referrals to the attorney general for investigation;
- Aligns civil and criminal penalties for non-compliance with the government-wide financial disclosure law, the Ethics in Government Act:
- Up to $50,000 for civil violations;
- Fines and up to one year in prison for criminal penalties.
The High Court Gift Ban Act is endorsed by Accountable.US, AFT, Alliance for Justice, American Humanist Association, Center for American Progress, Clean Elections Texas, Common Cause, Courage California, Court Accountability, Courts Matter Illinois, Demand Justice, DemCast USA, Demos Action, End Citizens United/Let America Vote Action Fund, Enough of Gun Violence, Faithful Democracy, Fix the Court, Free Speech For People, FRFF Action Fund, Get Money Out - Maryland, Greenpeace USA, Indivisible, League of Conservation Voters, Michiganders for Fair & Transparent Elections, MoveOn, National Association of Consumer Advocates, National Association of Social Workers, NETWORK Lobby for Catholic Social Justice, Ohio Fair Courts Alliance, P Street, People For the American Way, People Power United, Project on Government Oversight, Public Citizen, Reproductive Freedom for All, Secular Coalition for America, Secure Elections Network, Stand Up America, Supreme Court Integrity Project, Take Back the Court Action Fund, True North Research, United Church of Christ, Voices for Progress, and Walking To Fix Our Democracy.
The text of the bill is here.
