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$20B in Grants Proposed: Biden Administration Targets Zoning Rules to Tackle Affordable Housing Crisis – Check It Out!

Biden Administration Targets Zoning Rules to Ease Home Construction

Report Highlights Struggle for Affordable Housing

According to the report of the Washington Examiner, the Biden administration seeks to simplify home construction by urging local governments to modify their zoning regulations. This initiative was outlined in a comprehensive economic report released by the Biden administration which highlighted the challenges posed by stringent zoning laws in accessing affordable housing. According to the administration these rigid regulations regarding the location and specifications of housing units contribute to the difficulty in finding reasonably priced accommodations.

READ ALSO: Aspen Residents To Enjoy Enhanced Food Tax Refund With Council’s Support

$20B in Grants Proposed: Biden Administration Targets Zoning Rules to Tackle Affordable Housing Crisis – Check It Out! (PHOTO: Colorado Springs Gazette)

Differing Views of Federal Funding Proposal

The report suggests using federal money to encourage cities and towns to loosen their zoning laws. For example, President Biden wants to give $20 billion in grants to places that agree to build more houses. Biden administration also plans to give $85 million to places that come up with plans to make housing more affordable. Some experts agree that this could help solve the housing problem. But not everyone agrees. Some say that giving people tax credits to buy homes won’t solve the real problem which is that there aren’t enough homes available. They worry that if more people try to buy homes with these credits it could make prices go up even more. They think the focus should be on making more houses not just helping people buy them.

READ ALSO: Spending Or Saving: Maximizing Your Tax Refund For Financial Success

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