American Housing and Economic Mobility Act of 2021

The American Housing and Economic Mobility Act of 2021 proposes a multi-pronged approach to increase the supply of affordable housing and lower costs for renters and homebuyers. The bill would provide federal grants to state and local governments that reduce zoning barriers, offer down-payment assistance to first-time homebuyers in historically redlined or segregated areas, and fund the construction of millions of new affordable rental units. To pay for these initiatives, the legislation would increase the estate tax on high-wealth individuals by lowering the exemption threshold and raising tax rates for the wealthiest estates. Additionally, the bill seeks to expand the Fair Housing Act to prohibit discrimination based on sexual orientation, gender identity, marital status, veteran status, and source of income.