Housing for US Act

This bill would use any money the federal government gets from releasing Fannie Mae and Freddie Mac to help states build more homes for middle-class families. The money would go into a special 10‑year trust and be used only for this purpose; after 10 years, states repay the loans to the U.S. Treasury to help reduce the deficit.

The housing agency would lend to states to start state‑run loan funds that get paid back and reused. States then make low‑ or no‑interest loans to local governments and nonprofits to build or fix homes, and must put in at least 20% in non‑federal dollars. Loan repayments flow back into the fund so it can keep lending. Funds are distributed to states based on housing need and building costs . Money can cover new construction or rehab, property purchase, site work or demolition, financing and relocation costs, and reasonable planning—but not public housing modernization, Section 8 vouchers, ongoing operating costs, back taxes, or the non‑federal match for other federal programs.

Help targets middle‑income households (about 80% to 165% of the area’s median income). Rental homes must stay affordable under set rent rules for at least 15 years. For ownership, larger projects must include set shares for both middle‑ and lower‑income buyers; smaller projects must be affordable to the same income range; and there are 5‑year resale limits to keep homes affordable. New homes must meet energy‑efficiency standards . Projects must also meet worker standards: pay prevailing wages, use apprentices for at least 15% of labor hours in certain urban areas (with limited exceptions or a penalty), sign a project labor agreement, and verify workers’ eligibility to work in the U.S..

Key points

• Who is affected: Middle‑income renters and homebuyers; local governments and nonprofits that build housing; contractors and construction workers on funded projects.
• What changes: States get revolving loans to boost housing supply; funds can be used for building and rehab but not for vouchers or ongoing operations; projects must meet affordability and labor rules.
• When: Money is set aside for 10 years; rentals must stay affordable for at least 15 years; home resale limits last 5 years.