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A new bill introduced by Sen. Jeff Merkley<\/strong> (D-OR) aims to make homeownership a reality for more Americans by allowing them to receive up to $50,000 from the federal government for a first-time home purchase<\/a>.<\/p>\n The Homeownership Promise Act<\/a>, cosponsored by Sen. Ron Wyden<\/strong>, a fellow Oregon<\/a> Democrat, would allow Americans to open Homeownership Promise Accounts to save for a first-time home purchase<\/a>. For every dollar put into the account, the federal government would match it at a 5:1 ratio, up to $50,000 in federal matching funds.<\/p>\n \u201cWorking families should be able to afford a decent home in a decent community,\u201d\u00a0Merkley said in a statement.\u00a0\u201cFor millions of young Americans, homeownership remains further out of reach than ever before, keeping them from establishing the foundation that has enabled middle-class families to build equity for generations.\u201d<\/p>\n