Bill Overview
Title: LIFELINE Act
Description: This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.
Sponsors: Sen. Leahy, Patrick J. [D-VT]
Target Audience
Population: People relying on and potentially benefitting from state-funded low-income housing projects
Estimated Size: 150000000
- The bill allows states, territories, or tribal governments to use specific funds to finance low-income housing.
- The legislation targets residential rental properties that meet certain income tests.
- Such housing projects typically aim to benefit low-income families or individuals who cannot afford regular market-rent homes.
- The LIFELINE Act will directly influence the availability and quality of low-income housing.
- In the U.S., millions of individuals benefit from low-income housing initiatives, suggesting a substantial impacted population.
Reasoning
- The LIFELINE Act aims to enhance access to affordable housing for low-income households, a segment that includes roughly 150 million Americans who may benefit from improved housing access and quality.
- By allowing states, territories, or tribal governments to use State and Local Fiscal Recovery Funds, the policy targets enhancing community and resident stability, which could lead to long-term personal and economic benefits.
- A diverse range of the population, both direct beneficiaries and those indirectly influenced by housing market changes, can experience varied impacts depending on personal circumstances, housing needs, and locations.
Simulated Interviews
Single mother working two part-time jobs (New York City, NY)
Age: 45 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 30.0 years
Commonness: 7/20
Statement of Opinion:
- Having stable housing that is affordable has been a constant struggle, affecting every aspect of our lives.
- The policy sounds promising, but I've heard many promises before; implementation is the key.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 3 |
| Year 5 | 7 | 3 |
| Year 10 | 8 | 3 |
| Year 20 | 8 | 2 |
Construction worker (Detroit, MI)
Age: 32 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 20.0 years
Commonness: 10/20
Statement of Opinion:
- Access to more affordable housing would reduce my stress significantly.
- It's hard to plan for the future when you aren't sure if you'll even afford rent.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 7 | 3 |
| Year 10 | 7 | 3 |
| Year 20 | 7 | 3 |
Retired teacher (Austin, TX)
Age: 60 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 9/20
Statement of Opinion:
- While I don't benefit directly, more affordable housing in my community could stabilize neighborhoods.
- I worry about increasing taxes driving older residents out of their homes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 4 |
Software developer (San Francisco, CA)
Age: 28 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 15/20
Statement of Opinion:
- I support policies that help make our communities more inclusive and sustainable.
- This policy's focus on low-income housing is vital, although it won't impact me directly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Small business owner (Phoenix, AZ)
Age: 39 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 15.0 years
Commonness: 12/20
Statement of Opinion:
- If this can help stabilize my neighborhood, it might also help increase my number of clients.
- Housing construction often brings temporary job opportunities too.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 4 |
| Year 5 | 7 | 4 |
| Year 10 | 7 | 3 |
| Year 20 | 6 | 3 |
Part-time nurse (Orlando, FL)
Age: 50 | Gender: female
Wellbeing Before Policy: 3
Duration of Impact: 30.0 years
Commonness: 8/20
Statement of Opinion:
- This policy seems like it could finally offer some relief.
- I hope it results in more housing options with fair rent that I can afford on my income.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 3 |
| Year 2 | 5 | 3 |
| Year 3 | 6 | 3 |
| Year 5 | 7 | 2 |
| Year 10 | 7 | 2 |
| Year 20 | 7 | 1 |
Hospital doctor (Chicago, IL)
Age: 42 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 11/20
Statement of Opinion:
- Higher availability of affordable housing is crucial for the health of the city as a whole.
- The indirect benefits, such as healthier communities, are important.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 4 |
| Year 10 | 6 | 4 |
| Year 20 | 6 | 3 |
Freelancer (Los Angeles, CA)
Age: 24 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 20.0 years
Commonness: 13/20
Statement of Opinion:
- I worry daily about making rent, and more affordable housing would relieve some stress.
- It seems like a good policy, but will they follow through in my area?
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 3 |
| Year 5 | 7 | 3 |
| Year 10 | 7 | 2 |
| Year 20 | 6 | 2 |
Retired (Seattle, WA)
Age: 70 | Gender: other
Wellbeing Before Policy: 5
Duration of Impact: 15.0 years
Commonness: 10/20
Statement of Opinion:
- I am worried about rising living costs, but feel secure in my current housing.
- This policy gives me hope that more people can find the kind of stability I have.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 4 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 5 | 3 |
Teacher (Des Moines, IA)
Age: 35 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 14/20
Statement of Opinion:
- Policies like this might help lower the housing burden in general, which affects many of my students' families.
- While we own our home, I see the community struggle, and this support seems crucial.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 7 | 4 |
| Year 20 | 7 | 4 |
Cost Estimates
Year 1: $1500000000 (Low: $1250000000, High: $1750000000)
Year 2: $1500000000 (Low: $1250000000, High: $1750000000)
Year 3: $1500000000 (Low: $1250000000, High: $1750000000)
Year 5: $1500000000 (Low: $1250000000, High: $1750000000)
Year 10: $1500000000 (Low: $1250000000, High: $1750000000)
Year 100: $1500000000 (Low: $1250000000, High: $1750000000)
Key Considerations
- The policy relies on the effective use of allocated funds by state and local governments in coordination with federal guidelines.
- Long-term housing finance impacts both state capacity and housing affordability, affecting economic stability in targeted areas.
- Ensuring that low-income housing meets quality standards is crucial to achieve the desired long-term impacts.