Beatty Scores Major Unanimous Affordable Housing Wins in Financial Services Committee

WASHINGTON D.C. - Yesterday, the House Financial Services Committee marked up various affordable housing bills, including three provisions led by Congresswoman Joyce Beatty. These measures passed through committee unanimously as part of H.R. 6644, the Housing for the 21st Century Act, which will streamline housing development and increase flexibility for local communities. The package now awaits consideration by the full House of Representatives.

H.R. 5913, the Community Investment and Prosperity Act, expands banks' ability to make community investments that promote public welfare and local economic development by increasing the public welfare investment (PWI) cap. Under current law, national banks and state member banks can invest up to 15% of their capital and surplus in projects that benefit the public good, such as affordable housing, small business lending, and community revitalization. This bill increases that cap to 20%, empowering banks to direct more private capital into projects that strengthen local economies and create opportunities for families and small businesses.

H.R. 6726, the Reforms to Housing Counseling and Financial Literacy Programs Act of 2025, expands foreclosure mitigation counseling, through the Mutual Mortgage Insurance Fund, to borrowers who are 30 days delinquent on their mortgage payments. As co-chair of the Financial Literacy and Wealth Creation Caucus, Congresswoman Beatty has advocated for greater access to housing counseling to ensure that hardworking families and first-time homebuyers have the financial skills they need to understand their mortgage terms, prevent foreclosure, and maintain stable housing.

Several provisions from H.R. 2031, the HOME Investment Partnerships Reauthorization and Improvement Act, were included in an amendment to the housing package that was unanimously adopted by voice vote during the markup. Congresswoman Beatty's amendment makes key improvements to the U.S. Department of Housing and Urban Development's (HUD) HOME program, which is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-income and extremely low-income households. In addition to a number of technical fixes to the HOME statute to ensure that funding is being spent appropriately, the amendment eases compliance for small properties and increases flexibility for nonprofits that create and provide low-income housing.

Read the full bill texts:

• H.R. 5913 - Community Investment and Prosperity Act(link is external),
• H.R. 6726 - the Reforms to Housing Counseling and Financial Literacy Programs Act of 2025(link is external)
• Amdt. No. 8 to ANS to H.R. 6644(link is external).