The Homes Act is our bold response to this crisis, investing $300 billion over the next decade to ensure everyone can access an affordable home... Authorize $30 billion in annual appropriations, combined with a revolving loan fund to recoup and reinvest funds back into housing.
Invest $300 billion over ten years, including $30 billion in annual appropriations and a revolving loan fund, to expand affordable housing.
Occurrences
Evidence
Last Action Date Listed: September 18, 2024. Action: introduced and referred to the Committee on Banking, Housing, and Urban Affairs.
Smith's housing page still says 'her Homes Act would give millions of Americans' and that she 'will continue to fight for measures like these until they become law.'
Congress.gov lists S.5078 as sponsored by Sen. Tina Smith, introduced on 2024-09-18, read twice, and referred to the Senate Banking, Housing, and Urban Affairs Committee. The bill status is still Introduced.
The bill text authorizes $30,000,000,000 for each fiscal year 2025 through 2035 and establishes an Authority Capital Account to finance the program through appropriations, fees, investments, borrowing, and other receipts.
Smith's official housing page says the Homes Act would create over a million permanently affordable homes and that she will continue to fight for measures like these until they become law.
Assessments
Smith made a serious legislative attempt that matched the promise's substance: she sponsored the HOMES Act, S.5078, on 2024-09-18, and the bill text authorized $30 billion annually for fiscal years 2025 through 2035 while establishing an Authority Capital Account financing structure. But as of 2026-06-30, the bill's official status remains only introduced and referred to committee, with no enactment and no comparable enacted federal package tied to her that delivered the promised $300 billion affordable-housing investment. Her official housing page also still describes the measure as something she is continuing to fight to make law. That supports a failed but substantial effort rather than delivery.
Tina Smith materially advanced the housing proposal by introducing the Homes Act in the Senate, but the evidence shows it was only referred to committee and never enacted. Her official page still describes it as an active fight to become law, so the promised $300 billion housing investment was not delivered.