Durbin Files Housing, Crypto Amendments To Road To Housing Bill

Durbin Files Housing, Crypto Amendments To Road To Housing Bill

CHICAGO - U.S. Senate Democratic Whip Dick Durbin (D-IL) today announced that he filed five amendments to the 21st Century ROAD to Housing Act, a bipartisan housing package that is being considered by the Senate next week. Durbin's five amendments would ensure that families living in federally assisted housing are safe from lead poisoning; that housing is accessible and affordable for American families; that consumers are protected from fraudsters operating cryptocurrency ATM scams; that taxpayer funds are not used to bailout the crypto industry if there is an economic crash; and that social security is not invested in risky crypto assets.

"The affordability crisis has impacted every corner of Americans' lives, including their ability to purchase or rent a home. The Senate is taking a step forward in pursuing bipartisan legislation to address our nation's housing shortages," Durbin said. "As we discuss the future of housing policy, it's critical that we seek solutions that ensure homes are safe and affordable, so that Americans do not have to empty their savings to purchase a home. Further, we should secure our financial markets from the volatility of crypto or scammers looking to make a pretty penny."

Durbin's amendments filed include:

Amendment #4350 to include Durbin's Lead-Safe Housing for Kids Act. The amendment would require the U.S. Department of Housing and Urban Development (HUD) to update its lead poisoning prevention measures to ensure that families and children living in federally assisted housing are protected from lead poisoning.

Amendment #4351 to include Durbin's Advancing Better Options for Dwellings Everywhere (ABODE) Act. The amendment would create a design competition for 21st century single-family homes with a focus on cost, energy efficiency, and scalability.

Amendment #4348 to require crypto ATM operators to register with the Financial Crimes Enforcement Network (FinCEN) and protect consumers from crypto ATM scams. This amendment aligns with Durbin's Crypto ATM Fraud Prevention Act, which also aims to crack down on crypto ATM scams by adding layers of protections to crypto ATM transactions and requiring greater transparency from crypto ATM operators.

Amendment #4349 to prevent taxpayers from footing the cost of a federal bailout for the crypto companies if the industry causes an economic crash or sees mass bankruptcies.

Amendment #4352 to prohibit the Social Security Trust Fund from investing in cryptocurrency or crypto-related investments, ensuring that Americans' retirement funds are safe from the volatility of the crypto market.

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