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more:Biden Wants to Give 500,000 Americans Money to Buy Homes
Biden administration said on Thursday that it was looking to help hundreds of thousands of households to realize their dream of homeownership, part of an effort to reduce housing costs, increase supply of affordable homes and mitigate the rising expense of paying for a house for Americans.
Through its backing of a proposal known as the Neighborhood Homes Investment Act, it would "promote homeownership for an additional 500,000 households while increasing neighborhood revitalization investments," Lael Brainard, the director of the White House's National Economic Council, said in a speech on Thursday when he urged Congress to act on the proposal.
The act will introduce a new federal tax credit to help fund "the development and renovation of 1-4 family housing in distressed urban, suburban, and rural neighborhoods," according to a draft of the bill.
Biden wants to give 500,000 Americans money to buy homes
The White House said it was looking at different ways to help reduce the high cost of housing in America.
www.newsweek.com
You will, of course, notice that the source IS NOT Fox News.