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Landmark housing bill overwhelmingly passes Senate, faces uncertain future in House
The bipartisan 21st Century ROAD to Housing Act limits institutional investors from buying single-family homes and requires sales to individual buyers after seven years, aiming to ease the housing shortage.
- On Thursday, the U.S. Senate passed the 21st Century ROAD to Housing Act, authored by Sen. Tim Scott, R-S.C., and Sen. Elizabeth Warren, D-Mass., with 89 votes and ten opposed.
- The 303-page bill creates grants and pilot programs and revises federal definitions to encourage more housing units, aiming to curb large institutional investors buying single-family homes ahead of the midterm elections.
- It directs the Department of Housing and Urban Development and the Department of Agriculture to jointly coordinate environmental reviews and create alternative compliance avenues to cut inspection delays for rural housing projects.
- House passage remains uncertain despite the White House signaling on March 2 it would sign the Senate's version; Sen. Tim Scott, R-S.C., said on March 11 on CNBC's 'Squawk Box', 'We think we've given the sweeteners necessary'.
- The unusual Scott–Warren authorship includes a provision forcing major investors owning at least 350 single-family homes to sell after seven years, while the House last month passed a different version with 390 supporters.
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InsideNoVA.com+5 Reposted by 5 other sources
US Senate passes housing bill as lawmakers seek cost-of-living win
The US Senate overwhelmingly passed a bipartisan housing bill Thursday aimed at boosting construction of affordable homes, giving lawmakers a rare legislative victory they hope to tout to voters worried about rising living costs.
Watauga Democrat+2 Reposted by 2 other sources
Bipartisan housing bill passes Senate, faces uncertain fate in House
(The Center Square) – The U.S. Senate overwhelmingly passed the bipartisan 21st Century ROAD to Housing Act, a bill to increase American housing supply and lower home prices, in an 89-10 vote Thursday.
·Calhoun, United States
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Coverage Details
Total News Sources47
Leaning Left9Leaning Right6Center16Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 29%
C 52%
R 19%
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