Housing Affordability Tour

Last week, I traveled across Indiana to talk about housing affordability and outline my legislative agenda to address the significant shortage of affordable housing options in the United States. I spent time in Columbus, Clarksville, Indianapolis, Kokomo, and Merrillville and discussed ideas to increase housing stock, lower costs, and revitalize distressed neighborhoods.

On my tour, I met with Indiana realtors and other stakeholders to discuss solutions to the housing affordability crisis. In communities across Indiana, rent and home prices are skyrocketing, and employers worry that there aren’t enough homes available for the workers they need to hire.

Below is more information about three specific bills I am working on to help address this nationwide crisis.

The Neighborhood Homes Investment Act

I introduced the Neighborhood Homes Investment Act (NHIA) with Senator Ben Cardin (D-Md.) to help revitalize distressed neighborhoods in Indiana and across the country.

This bill would incentivize private investment in blighted communities by creating a federal tax credit that covers the excess cost of building and renovating homes in distressed communities. This bill would also cap the sale prices of these homes to ensure affordability. The NHIA could lead to the revitalization of 9,570 homes and create $2.4 billion in development revenue over the next 10 years in Indiana alone.

Across Indiana, we have seen once-vibrant neighborhoods struggle under poor economic conditions and lack of investment. The Neighborhood Homes Investment Act would help restore these communities by directing private capital into neighborhoods in low-income census tracts, bridging the gap between the cost of renovation and neighborhood property values

Read more here.

The Yes In My Backyard Act

Burdensome local zoning and land use policies drive up housing costs in communities across America. These policies exacerbate the housing affordability crisis and stifle the ability of Americans to move to areas of opportunity. I am working on legislation that will require cities, towns, and rural areas across America to face this reality under a new level of transparency and encourage them to cut these harmful regulations.

Senator Brian Schatz (D-Hawaii) and I reintroduced the Yes In My Backyard (YIMBY) Act to shed light on discriminatory land zoning policies, encourage localities to cut burdensome regulations, and bring a new level of transparency to the community development process.

Instead of adopting zoning and land use policies that increase the housing supply and lower costs, some communities are building paper walls of regulations that do just the opposite. In the midst of a nationwide housing affordability crisis, this legislation would ensure localities do their part to make housing more affordable for everyone.

Read more here.

The Affordable Housing Credit Improvement Act

Senator Maria Cantwell (D-Wash.) and I introduced bipartisan legislation to help build nearly two million new affordable homes over the next decade.

The Affordable Housing Credit Improvement Act would support the financing of more affordable housing by expanding and strengthening the Low-Income Housing Tax Credit (Housing Credit), our country’s most successful affordable housing program.

Since its creation, the Housing Credit has built or restored more than 3.5 million affordable housing units, nearly 90 percent of all federally-assisted affordable housing during that time. Roughly eight million American households have benefitted from the credit, and the economic activity that it generated has supported 5.5 million jobs and spurred more than $617 billion in wages.

In Indiana and across the nation, affordable housing is needed now more than ever. The Affordable Housing Credit Improvement Act will leverage private sector investment to increase the stock of affordable housing for families in both urban and rural communities. Our bipartisan bill tackles the housing affordability crisis head on to help Hoosier families and strengthen our communities.

Read more here.

Students: Learn More About Attending a Service Academy

In August, I’ll be hosting an Academy Day in Lawrence, Indiana. Academy Days provide an opportunity for students considering applying to a military academy to meet and hear presentations from representatives from each institution. I will also share a little about my experience as a student at the United States Naval Academy. I look forward to seeing you there.

Learn more about Academy Days here.

Local News

Northwest Indiana Times: U.S. Sen. Todd Young Touts Affordable Housing Initiatives

WISH TV: Housing Advocates Call Young Housing Proposals a Good Start

Indiana Public Media: Young Discusses Need for Affordable Housing During Statewide Tour

News and Tribune: Sen. Young Outlines to Realtors his Goals to Expand Housing

The Republic: Young Talks Housing in Columbus, Promotes Bills

WDRB: Sen. Todd Young Visits Clarksville to Discuss Housing Affordability

WRTV: U.S. Senator Todd Young Proposes 3 Policies He Feels Will Address the Affordable Housing Shortage

Lakeshore Public Media: Young Discusses Need for Affordable Housing During Statewide Tour

Daily Journal: Young Talks Housing, Promotes Bills During Columbus Stop on Housing Tour

Post-Tribune: Sen. Todd Young pitches affordable housing at Merrillville stop

Hamilton County Reporter: Housing advocates call Sen. Young’s housing proposals a good start

Thank you for the continued privilege to serve you in the U.S. Senate. My mission is to fight on behalf of Hoosiers and the interests that are unique to our state. I look forward to working with you, and sharing our progress, in the days ahead. 

In Service,

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