April 17, 2017

Enterprise Submits Testimony on Legislative Proposals to Increase Economic Growth

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Capitol Building

Last week Enterprise submitted testimony to the Senate Banking Committee in response to an open call for “legislative proposals that will promote economic growth and/or enable consumers, market participants and financial companies to better participate in the economy.”

Enterprise’s testimony makes the case that investments in affordable housing must be part of any federal strategy to promote strong, sustainable and inclusive economic growth, then lays out six specific proposals for the committee:

  1. Expand support for renters as part of any effort to reform America's mortgage finance system.
  2. Attract private investment to repair America’s crumbling public housing.
  3. Support federal tax incentives that use private sector capital to build and preserve affordable housing.
  4. Reject proposed cuts to crucial affordable housing programs.
  5. Create a new federal fund to help test and scale innovative financial products that encourage low-income households to save, with a primary focus on unrestricted emergency savings.
  6. Invest in affordable housing that connects low-income workers to jobs via transit as part of our critical infrastructure.

Many of the above proposals were also included in Enterprise’s long-term policy platform, An Investment in Opportunity, which was published in February 2016. Read the full testimony submitted to the Senate Banking Committee here