Call Your Representatives and Senators

Please call your elected officials in Congress as soon as possible, urging them to cosponsor bills providing $1 billion for the National Housing Trust Fund (NHTF).

Ask your representative in the House to cosponsor H.R. 3766, the "Main Street TARP Act", introduced by Rep. Barney Frank (D-MA). [Cosponsors as of Friday, October 9: Dennis Cardoza (CA), Elijah Cummings (MD), Chaka Fattah (PA), Paul Kanjorski (PA), Nydia Velazquez (NY), and Maxine Waters (CA).]

Plus

Ask both of your senators to cosponsor S. 1731, the "Preserving Homes and Communities Act", introduced by Sen. Jack Reed (D-RI). [Cosponsors as of Friday, October 9: Richard Durbin (IL), Al Franken (MN), Jeff Merkley (OR), and Sheldon Whitehouse (RI).]

877-210-5351 is the toll free number for the congressional switchboard. Ask to be connected to the housing staffer for your representative's and senators' offices. You can also click on the blue 'Take Action' link above to enter your zip code and find their phone numbers.

The Details

H.R. 3766 would, among other things:

• Transfer $1 billion to the NHTF from funds yet to be tapped in TARP (the Troubled Asset Relief Program - also known as the bank bailout program).
• Limit rents paid by tenants in NHTF-assisted homes to 30% of their adjusted income (the "Brooke Provision").

S. 1731 would, among other things, transfer $1 billion to the NHTF from the "sale of warrants" that were required in TARP. (When the Treasury gave TARP funds to financial institutions to prevent their collapse, Treasury obtained warrants, the right to purchase stock from these institutions at a set price over a set period of time. The sale of warrants produces revenue for the federal government. As of August 31, sale of warrants brought in $2.9 billion.)

More information about other features of H.R 3766 and S. 1731 is available here.

Questions?

Contact the Outreach Team at (202) 662-1530 or at .