US EditionLandmark housing bill overwhelmingly passes Senate, faces uncertain future in House
The 21st Century ROAD to Housing Act passed 89-10 in the Senate, aiming to lower costs by restricting investor home purchases and boosting affordable housing incentives.
- 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.
15 Articles
15 Articles
Senate passes Elizabeth Warren’s housing policy — with some unlikely conservative allies
The Senate passed on a bipartisan basis a bill barring Wall Street investors from buying up single-family homes in addition to other provisions meant to drive down prices, sending the legislation back to the House where faces an uphill battle before reaching President Trump's desk.
In a rare bipartisan win, Warren-backed housing bill passes the Senate, but faces a murky future - The Boston Globe
Elizabeth Warren helped shepherd a major bipartisan housing bill package to passage in the Senate. With President Trump's support tentative, the road ahead is uncertain.
Senate approves sweeping bipartisan housing bill, but roadblocks remain in the House
The Senate approved a package of bills aimed at lowering housing costs, the most sweeping housing legislation in decades and a rare point of bipartisan consensus in an election year, with the issue of affordability top of mind for many voters.
Trump-backed affordable housing overhaul clears Senate, while House GOP raises red flags
The bipartisan 21st Century ROAD to Housing Act cleared the Senate on a wave of bipartisan support, but changes made in the upper chamber aren't sitting well in the House.
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