Wyden, Hoyle Reintroduce Bill to Tackle Housing Affordability Crisis, End Homelessness

Wyden, Hoyle Reintroduce Bill to Tackle Housing Affordability Crisis, End Homelessness

DASH Act would expand the production of affordable housing for low-income and middle-income families, create new down payment tax credit for first-time homebuyers, tackle homelessness through Housing Choice Vouchers and key services to keep people housed

Washington, D.C. - Senate Finance Committee Ranking Member Ron Wyden (D-OR) and Congresswoman Val Hoyle (OR-4) yesterday reintroduced the Decent, Affordable, Safe Housing for All Act (DASH Act), comprehensive housing legislation that would spur construction of millions of housing units for working-class and middle-class Americans, create a new down payment tax credit for first-time homebuyers, lower costs, and make a landmark investment to end homelessness.

"The housing crisis deepens every year in Oregon and across the country, dimming people's dreams of homeownership and pushing more working-class families onto the street because they can't cover rent," Senator Wyden said. "We've got to build a lot more housing for working class and middle class families, and it costs a whole lot more money to deal with all the repercussions of rising homelessness than it does to simply build the housing we need. While we're building a lot of new housing, the new tax credit for first time buyers is an important opportunity to help a lot more people, particularly young families just starting out, achieve the American dream of homeownership. My bill will make it as seamless as possible to deliver the biggest bang for the buck."

"People cannot wait any longer for relief. America's housing and affordability crisis is devastating our communities. People are spending record highs on housing and that's if they are lucky enough to find housing in the first place," said Congresswoman Hoyle. "The DASH act addresses both the immediate issues and the underlying causes behind our growing homeless and housing crisis. Americans can't afford for Congress to wait any longer. I was proud to introduce it in 2024, and I am urging my colleagues to take it up again in 2026."

Wyden's DASH Act would make stable, safe and decent housing available for all by:

• Housing everyone experiencing homelessness within five years, and prioritizing children and families for placement by issuing them a Housing Choice Voucher;

• Expanding physical and mental health, child care, financial and nutrition services for families and individuals to stay on a path to unassisted housing stability;

• Greatly increasing the production of housing to address shortages across the board by investing more in deeply affordable housing for extremely-low-income households, strengthening the Low-Income Housing Tax Credit (LIHTC), and establishing a Renter's Tax Credit and Middle-Income Housing Tax Credit (MIHTC);

• Investing in homeownership in underserved communities and for low income Americans with new down payment assistance, including a down payment tax credit for first-time homebuyers.

Key updates from the DASH Act in the previous Congress:

• While previous versions of the bill included a first-time homebuyer tax credit, this new version would make the credit advanceable and seamless for homebuyers so that taxpayers don't have to wait until filing season to receive the down payment assistance.

• For the first time, the bill would allow low- and middle-income Americans who sell their homes for less than their original purchase price to claim a tax deduction for the amount they lose on the sale, up to $100,000.

The text of the bill is availble here.

A brief summary of the bill is available here.

A section-by-section summary of the bill is available here.

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