They already do this in Los Angeles, it's been a complete disaster.
From my understanding, Project Room Key hasn’t worked because acquisitions have been less than stellar, and the County is starting to phase out the program as it stands. That coupled with a negligible increase in housing supply hasn’t helped the situation.
The goal of this bill is to provide a sort of dedicated support from the Federal government so that regional and local governments can use the savings to fund more housing construction.