First Day on the Dias: Sam Liccardo Calls for Increased Oversight of Affordable Housing Programs & State Insurance Markets

WASHINGTON, D.C. – Today, Congressman Sam Liccardo (CA-16) called for increased oversight of federal homeless and housing voucher programs, as well as over federal-state regulatory arrangements in insurance markets. Liccardo introduced an amendment to the oversight plan addressing both issues during his first hearing as a member of the House Committee on Financial Services.  That powerful committee—one of four “exclusive” committees typically reserved for more senior members of the House of Representatives— has jurisdiction over housing and insurance issues, among others. 

“We must use more innovative housing models and construction methods to bend the cost curve and build housing at a speed that the homelessness crisis demands,” said Liccardo. “Cities and counties throughout the nation are launching innovative housing models to address homelessness, but their access to vouchers is often precluded by rigidities in existing federal law. My amendment seeks to… enable greater flexibility in the deployment of housing choice vouchers to combat our homelessness crisis.”

Regarding insurance, Liccardo proposed that the committee understand how Congress’ delegation of regulatory authority to the states in the 1945 McCarran Act has impacted insurance affordability and availability, and whether it’s time to reexamine those regulatory structures. 

As a new member of the Oversight & Investigations subcommittee, the Bay Area representative will shape which issues the committee oversees/ in the 119th Congress. Liccardo will also serve on the subcommittee on Digital Assets, Financial Technology, & Artificial Intelligence—which will play a dominant role in cryptocurrency and fintech regulation—as well as the subcommittee on National Security, Illicit Finance, and International Financial Institutions. Colleagues will look to Liccardo for expertise given his engagement in  Silicon Valley in working with tech leaders and leading thinkers in the innovation economy.   

Watch Liccardo’s full committee remarks here.