Representative Nydia Velazquez (New York City) has introduced H.R. 480, “Housing America’s Workforce Act”. This bill creates a tax incentive for businesses to encourage more employers to offer employee assisted housing benefits to their employees.
Employer Assisted Housing programs have been shown to be a successful private sector tool to helping lower- and middle-income families afford suitable housing where they work. Down payment assistance, interest rate buy-downs, rental assistance, and closing cost grants are some of the tools typically included in an EAP program. NAR’s Housing Opportunity program strongly supports Employer Assisted housing programs, and NAR sent a letter to Rep. Velazquez, thanking her for introducing the legislation.