Press Releases

WASHINGTON — Today, Congresswoman Brittany Pettersen (CO-07) applauded House passage of the 21st Century ROAD to Housing Act, the most significant housing legislation in 30 years, which now heads to the President’s desk to be signed into law. The landmark package is the result of months of bipartisan negotiations and includes several Pettersen-led bills to address housing affordability in Colorado and across the country.

Rep. Pettersen was a key negotiator in shaping the package, successfully pushing to revise a harmful provision that would have blocked Built-to-Rent homebuilding projects and undermined efforts to address the nation’s housing supply and affordability crisis.

The final package includes Pettersen’s Streamlining Rural Housing Act, which will reduce duplicative federal housing requirements that slow affordable housing development in rural communities; her Housing Supply Frameworks Act, which will help develop best practices on zoning and land-use policies; and the full version of her VALID Act, which will improve the mortgage lending process for servicemembers and veterans. Pettersen successfully secured inclusion of the full VALID Act after only an amended version was included in the previous House-passed package.

In Colorado, there is currently a housing shortage of over 100,000 homes and apartments. The state also needs to build over 30,000 units in the next decade to make up for the shortfall given the population growth. Due to this shortage, Colorado has seen median rents climb by more than 80% over the last decade. Pettersen’s bills take important steps forward to address that shortage and encourage policies that help new housing development. 

“All across Colorado, families are being squeezed by the rising cost of housing. Whether in the Denver metro area or our rural mountain communities, there simply aren’t enough homes, and that shortage is driving up costs for everyone,” said Pettersen. “Housing affordability is one of the top issues I hear about from constituents, which is why I fought to include three of my bills in the most significant housing legislation in 30 years. This represents meaningful progress on one of the biggest challenges facing working families. It will help boost housing supply, remove barriers to construction, and expand access to homes families can actually afford. It’s rare these days, but this is an example of what Congress can — and should — be doing: rolling up our sleeves and working together to address the urgent issues facing the American people. While I know there’s still a lot more work we need to do, I’m proud to have helped shape this legislation and get it across the finish line, and I look forward to seeing it signed into law.”

Pettersen’s legislation that passed in 21st Century ROAD to Housing Act – and will soon become law – are listed below:

• The Streamlining Rural Housing Act: Introduced alongside Congressman Stutzman (R-IN), the bill directs HUD and USDA to enter a memorandum of understanding, a formal interagency agreement to coordinate housing standards, reducing redundant reviews that increase costs and slow affordable housing development in rural communities.

• The Housing Supply Frameworks Act: Introduced with Congressman Mike Flood (R-NE), the bill directs the U.S. Department of Housing and Urban Development (HUD) to develop frameworks for best practices on zoning and land-use policies to confront barriers to housing development and construction.

• The VALID Act: Would update Federal Housing Administration (FHA) mortgage disclosures to include VA Home Loans alongside FHA and conventional loan options. The bill would also ensure lenders are provided with important information regarding an applicant’s military service so they can provide information about VA loans early in the homebuying process.

Over her 14 years in elected office, Representative Pettersen has made expanding access to housing that families can afford a cornerstone of her work in Colorado and in Congress. As a member of the House Financial Services Committee and Subcommittee on Housing and Insurance, as well as a Co-Chair of the Real Estate Caucus and the Yes In My Back Yard (YIMBY) Caucus, she is currently leading the charge to tackle the national housing shortage by championing policies that cut through regulatory red tape and streamline the development of innovative, low-cost homes. 

###

To access downloadable, high-quality photos, click here. To stay up-to-date on what Pettersen is doing in Congress, follow her on Twitter here, Facebook here, or Instagram here. Residents can also sign-up for her e-newsletter subscription here.