Word: costly
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Dates: during 1980-1989
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With the Federal Government straining under a $2.6 trillion debt, it is obviously unrealistic to expect that low-cost housing funds will be restored to pre-Reagan levels. But any serious program to stem homelessness is going to require money. The National Coalition for the Homeless estimates that it would cost $4 billion to build 280,000 additional units of housing over the next two years...
...spurred the creation of five new SRO hotels, where tenants pay from $240 to $390 a month. In New York City last week, local officials joined with a community-development group to finance the construction of 1,000 apartments for low-income families; $25 million of the $80 million cost was raised from corporations, which can write off their contributions as a federal tax credit. An additional $25 million has been raised through the tax-credit program -- a little-noticed innovation tucked into the 1986 tax-reform bill -- for low- income housing in Los Angeles, Kansas City, San Francisco...
Raise the minimum wage. The best way to help the working homeless is to pay them better: the national minimum wage has stayed at $3.35 an hour since 1981, while the cost of living has risen by a third. Modest financial help is already coming from some states. California raised its minimum wage to $4.25 an hour in July. Other states provide more direct assistance: New Jersey has prevented 12,000 families from being evicted over the past four years by providing loans and grants to help pay rents and mortgages...
Clearly, alleviating homelessness is going to cost U.S. taxpayers money. It is up to the next President and to the American people to decide how high a priority housing of the dispossessed deserves. In considering the cost, the President should keep in mind that the $7.5 billion the Federal Government will spend for low-cost housing this year is meager compared with the nation's biggest housing subsidy: more than $30 billion in a mortgage-interest tax deduction goes to 58.5 million private homeowners, including the very wealthy...
...last season's styles and production overruns." Indeed, "Flemington is not competing with K mart," says Fran Durst, president of the Hunterdon < County Chamber of Commerce, which has headquarters here. "In the Anne Klein outlet, you're still going to pay $250 for a suit. But it would have cost you $500 in Bloomingdale...