H.R. 7972, known as the "Affordable Housing and Area Median Income Fairness Act of 2024," aims to increase the availability of affordable housing and reduce rent costs. The bill proposes the allocation of $5 billion annually from 2025 to 2034 for programs like the Home...
Simple Explanation
The bill wants to make more homes cheaper to rent by giving a lot of money every year to places where it's really expensive to live. It also plans to explore new ways to decide how much money people need to afford homes, so it's fairer in big cities.