Rep. Casey applauds House Speaker Shekarchi’s testimony before U.S. Senate on housing affordability

STATE HOUSE — Rep. Stephen Casey lauded House Speaker K. Joseph Shekarchi for his impactful testimony before the U.S. Senate Budget Committee. The hearing, entitled “The Costs of Inaction: Economic Risks from Housing Unaffordability,” addressed the growing national housing crisis.

Speaker Shekarchi testified in strong support of S.5156, a bill designed to amend the Internal Revenue Code of 1986 to enhance the Low-Income Housing Tax Credit (LIHTC) and provide critical resources to help alleviate the affordable housing shortage in Rhode Island and across the nation.

“The speaker’s testimony highlights the urgent need for federal action on housing affordability,” said Representative Casey (D-Dist. 50, Woonsocket), who chairs the House Municipal Government and Housing Committee. “His leadership and advocacy for S.5156 underscores our shared commitment to addressing housing challenges and ensuring that all Rhode Islanders have access to safe and affordable housing.”

Representative Casey emphasized the importance of the proposed changes to the LIHTC, a key tool for incentivizing the construction and rehabilitation of affordable housing units.

“As chair of the House Municipal Government and Housing Committee, I will continue to work closely with Speaker Shekarchi and our federal partners to push for policies that address the housing crisis,” Representative Casey added. “Now is the time for meaningful action, and Speaker Shekarchi’s testimony is a critical step in ensuring that Rhode Island is part of the national conversation on this issue.”

The hearing comes at a pivotal time as state and local governments grapple with the ongoing housing shortage and its impact on families and communities. Representative Casey reaffirmed his commitment to supporting legislation that tackles this pressing issue, with the goal of creating more affordable housing opportunities for Rhode Islanders.