Rep. Craig Leads Legislation to Combat Housing Affordability Crisis, Help Minnesotans Buy Their First Home

WASHINGTON, DC – Today, U.S. Representative Angie Craig (MN-02) joined her colleagues Reps. Jimmy Panetta (CA-19) and Mike Thompson (CA-04) in introducing legislation to combat the housing affordability crisis and help Minnesota’s first-time homebuyers purchase a home.

The First-Time Homebuyer Tax Credit Act would establish a refundable tax credit worth up to 10% of a home’s purchase price, up to a maximum of $15,000, for low-and middle-income, first-time homebuyers.

“For folks looking to put down roots in Minnesota, buying their first home is a critical step,” said Rep. Craig.“Unfortunately, that step is out of reach for too many Minnesotans – but it doesn’t have to be. The First-Time Homebuyer Tax Credit Act would combat the housing crisis in our state by giving first-time homebuyers the boost they need to afford a home and invest in our communities.”

Rep. Craig has been working in Congress to combat the housing crisis and help bring homeownership within reach for Minnesotans.

Last month, she introduced legislation with Rep. Johnny Olszewski (MD-02) and others that would enable the federal government to better track and study housing loss across the country.

Her Federal Inquiry into the Nature and Documentation (FIND) of Housing Loss Act would create a joint taskforce between the Secretary of Housing and Urban Development (HUD), the Director of the Census Bureau, the Federal Housing Finance Agency, the Department of Commerce and the Bureau of Consumer Financial Protection to conduct the National Housing Loss Report. The taskforce would identify the types of and reasoning behind housing losses that have occurred in the U.S. since January 1, 2022. The report, which would be submitted to Congress within six months of the taskforce's creation, would include statistical data to help lawmakers craft federal housing policy.

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