As a current member of the State Advisory Council on Homelessness, I have seen firsthand the challenges of our growing affordable housing crisis in Washington state. In Congress, I will commit to making affordable housing and homelessness a top priority.
Today, we face a nationwide shortage of approximately 7.5 million affordable rental homes available to our most vulnerable neighbors. If we fail to act, this figure will continue to rise pushing more and more people into poverty by the crushing cost of rent. Predictions suggest that by the year 2025, there may be 15 million Americans who must spend half of their monthly income on rent in order to remain off the streets. With stagnant wages and the increasing cost of housing, families in America are struggling to make ends meet and those hurt the worst by the affordable housing crisis are senior citizens, veterans, and those experiencing homelessness.
I support Low Income Housing Tax Credits in order to leverage private investment in the development of affordable housing. These tax credits will create more affordable housing units easing demand, create jobs in our communities, and generate revenue.