U.S. Senators Young, Rosen introduce bill to boost housing supply, lower costs by supporting housing small businesses

U.S. Senators Todd Young (R-Ind.) and Jacky Rosen (D-Nev.) introduced a bill to boost housing supply and lower housing costs by supporting small businesses in the housing industry.

The Boosting Housing Supply through Small Business Act would require the Small Business Administration and the U.S. Department of Housing and Urban Development to create an interagency plan to identify gaps in assistance and opportunities to streamline counseling and lending to housing small businesses, such as homebuilders, contractors, and home improvement and repair businesses.

“We need to find innovative ways to increase the number of affordable homes in Indiana and across the country,” said Senator Young. “Our bill will reduce barriers for small businesses involved in the housing industry, which will help increase housing supply and affordability for all Americans.” 

“As housing prices continue to skyrocket across the country, I’m doing everything I can to lower housing costs through different approaches,” said Senator Rosen. “By supporting small businesses in the housing industry, we have the opportunity to boost the housing supply and lower costs, making the dream of buying a home for hardworking Americans a possibility. I’m proud to introduce this bipartisan bill to do just that, and I’ll keep working to lower costs for Nevada families.”

More information on the bill is available here.