James Sensenbrenner, September 2, 2004

Owning one’s home has long been considered part of the ‘American Dream.’ A home can provide a family with economic and social stability, because it creates a solid and permanent environment in which to raise a child. Moreover, a homeowner is more likely to contribute to his or her community -- either financially or through various voluntary efforts -- because of the money invested in the purchase, and the desire to improve the neighborhood.

Under the Bush Administration, construction has started on 6.4 million new homes, and the President is on pace to set the record for the most number of housing starts during any single presidential term on record. In fact, as of the end of July, 73.4 million homeowners have realized their dreams by purchasing their own homes. This number represents the highest number of homeowners at any time in our nation’s history, and is a testament to the efforts of President Bush and Congress to help Americans.

One of the policies the President and Congress have put in place to encourage homeownership is the American Dream Downpayment Initiative (ADDI). Signed into law by President Bush last December, the program was created to assist low-income, first-time homebuyers, in purchasing single-family homes. ADDI provides funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase.

As part of my continuing efforts to represent and help the people of the Fifth District, on August 20, I aided in the coordination of an event, along with representatives of the Department of Housing and Urban Development (HUD), Waukesha County, and the Waukesha County HOME Consortium, to announce that Waukesha, Washington, Ozaukee and Jefferson Counties will receive $223,307 in federal funds through the ADDI. This grant will produce more affordable housing for Wisconsin individuals and families, and will help stimulate the above mentioned counties’ economies. When people in our state buy homes, they contribute to our state’s economy and provide more employment opportunities for Wisconsinites.

I was pleased to support this legislation when it passed the House because this program will help Wisconsin families better their lives by making the ‘American Dream’ a reality for many of them.

Congressman James Sensenbrenner, a Republican, represents the Fifth Congressional District of Wisconsin. He serves as chairman of the House Committee on the Judiciary. The Fifth District of Wisconsin forms an arc surrounding Milwaukee to the North and West, and includes parts of Jefferson, Milwaukee and Waukesha counties, and all of Ozaukee and Washington counties.