The "Housing for US Act" proposes to dedicate any federal amounts received from the release of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to a specific trust fund. These funds would be exclusively used for a period of 10 years to establish and support State housing revolving loan funds aimed at increasing the supply of middle-class housing. Under this legislation, the Secretary of Housing and Urban Development (HUD) would provide capitalization loans to states that establish their own housing revolving loan funds. States must meet specific requirements, including a 20% non-federal matching contribution, and use the funds to provide loans or loan guarantees to eligible entities, such as local governments or non-profit organizations. The allocation of funds to states would be based on factors like the need for affordable housing for families earning 80-165% of the area median income, inadequate housing supply, and housing production costs. The State loan funds are designed to be perpetual, with repayments and interest continually reinvested. After 10 years, the capitalization loans provided to states must be repaid to the General Fund of the Treasury , with the explicit purpose of federal deficit reduction. This ensures that the initial federal investment ultimately contributes to fiscal responsibility. Eligible uses of the financial assistance include supporting homeownership and rental housing affordability through new construction or rehabilitation, property acquisition, and site improvements. However, funds cannot be used for purposes such as modernizing public housing, providing tenant-based assistance, or covering ongoing operational costs of rental housing. Qualified housing projects must meet specific affordability criteria for both rental and homeownership units, including income limits and, for homeownership, resale restrictions to maintain affordability. Significantly, projects in urban areas with high housing density are subject to stringent labor requirements. These include mandates for apprenticeship participation (15% of labor hours), adherence to prevailing wage rates as per the Davis-Bacon Act, I-9 compliance for all workers, and the use of project labor agreements . Additionally, contractors and subcontractors must meet responsible contractor policies, demonstrating compliance with laws and a clean record regarding past violations or debarments.