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Rob will introduce his legislation on day one as Maryland's new U.S. Senator: The CREATE ACT

U.S. Senate candidate for Maryland, Robert Houton, announced today he will introduce his legislation on day one as Maryland's new U.S. Senator: The CREATE ACT. Rob is taking action to get ahead of the commercial real estate crisis with $929 billion in commercial real estate loans set to come due and the owners of these assets at risk of foreclosure.  The affordable housing challenges Marylanders face can be alleviated through Congress enacting Rob's Consolidated Real Estate Asset Transformation Equity Act ("CREATE Act).  Rob is now inviting Marylanders, stakeholders from Maryland's affordable housing organizations,  the American Bankers Association (ABA), and the Real Estate Roundatble (RER), and other stakeholders to all come together to find common ground and agreement in crafting specific incentives and mechanisms which will offer individuals and families in Maryland, and throughout the U.S., the opportunity to live in refurbished and newly renovated residential living properties which were formerly commercial real estate holdings. This common sense approach will solve two core challenges: 1.) Incentivize building owners to secure tax relief for their devalued commercial real estate assets, stave off potentially catastrophic financial stress to the market, and; 2.) Allow qualified individuals and families the ability to thrive and contribute to growing communities which became vacant during the Covid pandemic.  The Federal Reserve is unlikely to reduce rates, compounding the challenges regional and community banks remain, according to Federal reserve Chairman, at highest risk.

Committee to Elect Rob Houton
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