Treasury Department’s Counselor for Racial Equity, Janis Bowdler, delivered a powerful speech at the National Fair Housing Alliance’s 2023 National Conference, emphasizing the importance of equity in housing programs. In her remarks, she highlighted the Biden-Harris Administration’s commitment to addressing racial disparities and promoting financial security for all Americans.
Bowdler acknowledged the longstanding partnership between the Treasury Department and NFHA, recognizing the vital work they have done in advancing fair housing and racial equity. She emphasized that racial equity has been a top priority for the administration, as investing in communities impacted by structural racism is crucial for a thriving national economy.
The goal of the Treasury Department is to create an economy where everyone can achieve financial security and reach their full economic potential. To achieve this, they aim to invest in underserved areas and communities, ensuring that those at the greatest risk of being left behind are provided with opportunities for upward mobility.
The speech highlighted three key Treasury programs that have played a significant role in addressing housing challenges exacerbated by the pandemic: the Emergency Rental Assistance program, the Homeowner Assistance Fund, and the State and Local Fiscal Recovery Funds. Bowdler detailed how these programs were designed to promote equitable economic recovery and ensure that resources were directed towards those who needed them the most.
The Emergency Rental Assistance program, in particular, provided a nationwide infrastructure for eviction prevention. Through partnerships with various entities, the program successfully delivered relief to millions of households, with over 85% of the payments going to very low-income families. Bowdler also highlighted the positive impact of the program on mental health outcomes and its role in supporting long-term housing stability for renters.
The Homeowner Assistance Fund aimed to assist homeowners facing financial hardship. The Treasury Department prioritized reaching historically underserved populations by implementing strategies such as culturally and linguistically relevant outreach. The data showed that the assistance provided by the program had an equitable reach, benefiting homeowners with lower incomes and diverse backgrounds.
The State and Local Fiscal Recovery Funds program distributed $350 billion to state, local, territorial, and Tribal governments to support their response and recovery efforts. The Treasury Department ensured that these funds were used to address the unique needs of vulnerable communities, focusing on economic and racial equity. The program empowered local leaders to identify solutions that would have the greatest impact in their communities, including investments in affordable housing and homelessness prevention.
Bowdler emphasized the importance of sustaining the progress achieved in advancing racial equity beyond a single administration. To that end, the Treasury Department established the Office of Diversity, Equity, Inclusion, and Accessibility, as well as the Treasury Advisory Committee on Racial Equity. These initiatives will continue to inform and guide the Department’s work in increasing access to stable and affordable housing.
In closing, Bowdler underscored the significance of affordable housing and homeownership as key factors in financial health, well-being, and economic growth. She expressed gratitude for the collaborative efforts of various stakeholders in driving achievements on the ground and building an inclusive economy that benefits all Americans.
Janis Bowdler’s remarks at the conference shed light on the Treasury Department’s commitment to advancing racial equity in housing and its efforts to create opportunities for marginalized communities to thrive.