American Housing and Economic Mobility Act of 2025

This bill addresses housing affordability and availability through grants, housing programs, and oversight of financial institutions. The bill also makes certain changes to the estate tax, such as by generally increasing the rate.

The Department of Housing and Urban Development shall provide grants to (1) state, local, and tribal governments to remove barriers to building affordable units, (2) states to assist borrowers who have negative equity in their homes, (3) state housing finance agencies to support construction of affordable rental housing and prevent tenant displacement and harassment, and (4) eligible individuals (generally, lower income individuals who are first generation homebuyers) to help them purchase their first homes.

The bill establishes and provides funding for the first-time homeowner grant program and the affordable rental housing construction program, and it also funds existing rural housing programs.

The bill also requires financial regulators to generally assess the effectiveness of financial institutions in meeting the credit and lending needs of their communities, particularly of underserved populations.

Summary by the Congressional Research Service.