As the 2025-2026 legislative session begins, I plan to reintroduce my legislation to create a First Time Homebuyer Savings Account program (formerly House Bill 2224 of 2023-2024.)
Housing challenges are among the most pressing issues facing the Commonwealth. Not only is there a physical shortage of appropriate housing options, but the cost of both renting and buying homes has skyrocketed. Simply put- the current dynamics do not lend to retaining and attracting people to Pennsylvania.
 
As legislators, we have a responsibility to come up with thoughtful solutions to real problems. That is why last year I was proud to join several of my colleagues in introducing a package of bills which aimed to address housing shortages and accountability. My specific proposal would establish the First Time Home Buyer Savings Account Act- allowing eligible individuals to create a savings account to save income, pre-tax, to put towards the purchase of a home. Account holders would be able to contribute up to $5,000 a year, and a maximum of $50,000 over a 10-year period to their accounts. The only eligible use of funds contributed to these accounts would be the downpayment and closing costs incurred in the first-time purchase of a single-family residence.
 
Similar programs have been approved and established in other states, and this legislation passed the House last year with overwhelming bipartisan support. Please consider signing on as a cosponsor of this important piece of legislation.