Child Care for Working Families Act

Senate Bill

S. 2295

119th Congress

Child Care for Working Families Act

In Committee

Introduced:Sep 2, 2025

Primary Sponsor

Michael D. Crapo

Senator

Republican

ID

Cosponsors

4

Quick Stats

Policy Area

Finance and Financial Sector

Summary

The bill aims to help first-time, first-generation homebuyers with low incomes purchase homes by providing them with fixed-rate 20-year mortgages backed by the Federal Housing Administration (FHA) or the Rural Housing Service (RHS). These mortgages would have monthly payments similar to a 30-year FHA or RHS-backed mortgage, making homeownership more affordable for those who might otherwise struggle to buy a home.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

AI Summary

Plain-English explanation of this bill

The bill aims to help first-time, first-generation homebuyers with low incomes purchase homes by providing them with fixed-rate 20-year mortgages backed by the Federal Housing Administration (FHA) or the Rural Housing Service (RHS). These mortgages would have monthly payments similar to a 30-year FHA or RHS-backed mortgage, making homeownership more affordable for those who might otherwise struggle to buy a home.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Low-Income First-Time Homebuyers Act of 2023 or the LIFT Homebuyers Act of 2023 This bill establishes a program to provide fixed-rate 20-year mortgages for first-time, first-generation homebuyers whose incomes do not exceed a certain amount. These mortgages must be offered by the Federal Housing Administration (FHA) or the Rural Housing Service (RHS). Pricing terms must be established (1) such that monthly mortgage payments under this program are similar to a 30-year FHA- or RHS-backed mortgage, or (2) as are determined to be necessary to develop liquidity for securities backed by covered mortgage loans and expand program participation by eligible homebuyers. Additionally, program funds must be transferred to the Department of the Treasury for the purchase of securities backed by such mortgages.

Key Points

Main provisions of the bill

Establishes a program to provide fixed-rate 20-year mortgages for first-time, first-generation homebuyers with low incomes.
Requires the mortgages to be offered by the FHA or the RHS, with pricing terms that keep monthly payments similar to a 30-year FHA or RHS-backed mortgage.
Directs program funds to be transferred to the Department of the Treasury for the purchase of securities backed by these mortgages, to help develop liquidity and expand the program.

How This Impacts Americans

Potential effects on citizens and communities

This bill would directly benefit first-time, first-generation homebuyers with low incomes by making it easier for them to purchase a home. It could help increase homeownership rates and provide more financial stability for these individuals and families. The program's impact would be focused on underserved communities that have historically faced barriers to homeownership.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2295, 119th Congress (2025). "Child Care for Working Families Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-2295