Representative Andy Biggs (R-AZ) called for the passage of his Restoring the American Homebuyers Dream Act on social media after a recent federal report showed the impact of illegal immigration on housing affordability.
The Report
The New York Post shared a working paper published by the Federal Reserve suggesting that illegal immigration – especially during the reported surge from 2021 to 2024 under President Joe Biden – could be linked to a 30% rise in home prices, a 30% rise in employment growth, and a 20% rise in rent growth. However, the paper is still a preliminary draft, and its authors caution against pointing to immigration as the sole driver in rising home prices.
Biggs's Response
Nevertheless, Rep. Biggs responded to the Post's article shared on X, writing, "This report is exactly why I introduced the Restoring the American Homebuyers Dream Act, which would open more opportunities for citizens and legal residents to own homes without competition from people in the country illegally."
The Restoring the American Homebuyers Dream Act, which Rep. Biggs introduced in late May, would authorize the Internal Revenue Service (IRS) to share Individual Taxpayer Identification Number (ITIN) information, which are used for residents without Social Security numbers, with the Department of Homeland Security (DHS) for immigration enforcement purposes.
This is because illegal aliens can apply for an ITIN, which allows them to potentially compete with American citizens and legal residents for housing. Therefore, letting the IRS share this information allows DHS to track which ITIN holders may be in the United States illegally, reducing competition, without compromising the information of Americans with a Social Security number.
Recent Housing Bills
The Federal Reserve's preliminary report comes on the heels of President Donald Trump's refusal to sign the 21st Century ROAD to Housing Act into law until the SAVE America Act was passed by the Senate, although it could still become law if Trump did not sign or veto the bill within 10 days (Sundays excluded) and Congress remains in session.
