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Merkley Introduces Homeownership Promise Act With Up to $50,000 Grants

By Drooid · Sep 25, 2026, 4:51 PM UTC · How we work

Summary

Story summary

Senator Jeff Merkley introduced the Homeownership Promise Act.
The bill offers matching grants up to $50,000, with the federal government contributing five dollars for each saved dollar.
Analyst Ken Johnson warned the aid could lift home prices, recommending more affordable-home construction.
Senator Ron Wyden co-sponsored the legislation.
The measure was referred to the Senate Committee on Banking, Housing and Urban Affairs.

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Story summary

Senator Jeff Merkley introduced the Homeownership Promise Act.
The bill offers matching grants up to $50,000, with the federal government contributing five dollars for each saved dollar.
Analyst Ken Johnson warned the aid could lift home prices, recommending more affordable-home construction.
Senator Ron Wyden co-sponsored the legislation.
The measure was referred to the Senate Committee on Banking, Housing and Urban Affairs.