Help is on the Way: Congressional Districts Benefit from Housing Plan

Last week President Bush signed The Housing and Economic Recovery Act of 2008, which provides almost $4 billion in grants to help states and localities stem the housing crisis by reducing downward pressure on local housing markets. States will be able to use the money to restore foreclosed properties to productive use.

Center for American Progress analysis from Andrew Jakabovics has already shown that states will benefit from millions of dollars and thousands of new jobs. The factsheets below provide an even more detailed picture of neighborhood stabilization grants at the congressional district level. They provide estimates based on one interpretation of the formula language in the new law; the actual funding will be allocated based on a formula to be established by the Department of Housing and Urban Development within the next two months.

Read more, and see a map showing who will benefit from the Congressional housing plan here.