Maloney Amendment to GOP bill which eliminates Neighborhood Stabilization Program identifies what’s being cut

Mar 16, 2011
Press Release

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today offered an amendment on the House floor to H.R. 631, “The NSP Termination Act,” which would list the state-by-state quantities of vacant homes.

“The Neighborhood Stability Program is one of four housing programs that my colleagues on the other side of the aisle are attempting to destroy,” Maloney said. “My amendment, by listing the numbers of vacant homes in neighborhoods across America, points out why the program is so desperately needed. Foreclosed properties lead to volatile housing prices, blight, and community deterioration.

“In my home city of New York, the Neighborhood Stabilization Program has helped rehab over 500 units and convert them to affordable housing. The NSP is strongly supported by the New York City and the U.S. Conference of Mayors, the National League of Cities, the National Association of Counties and 50 organizations concerned about housing.

“This is an important program that should not be terminated. But if it is, we should be straight with the American people about its impact,” Maloney concluded.

The amendment lost, 179 - 246.

A copy of Maloney’s floor remarks (as prepared) is viewable here