Sen. Elizabeth Warren has introduced housing legislation that she says will eliminate the housing supply shortage and create more than a million new jobs. The proposed law would be funded through higher taxes on wealthy families.

On Wednesday, the Democrat from Massachusetts — who sits on the Banking, Housing, and Urban Affairs Committee — announced that she introduced the American Housing and Economic Mobility Act in the Senate.

According to Warren, who was the architect of the Consumer Financial Protection Bureau, the proposed law would "help bring down costs for renters and buyers and level the playing field so working families everywhere can find a decent place to live at a decent price."

Source: Mortgage Daily