US EditionLandmark housing bill overwhelmingly passes Senate, faces uncertain future in House
The 21st Century ROAD to Housing Act passed 89-10 to curb investor purchases of single-family homes and expand affordable housing incentives amid rising home prices.
- 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.
75 Articles
75 Articles
The Climate Stakes of the Senate’s Big Housing Bill
On Thursday, the Senate overwhelmingly approved the 21st Century ROAD to Housing Act, which has been touted by pundits and commentators across the ideological spectrum as the most significant housing package in decades. The bill is the result of eight months of work by legislators, beginning last July with the introduction of South Carolina Republican Senator Tim Scott and Massachusetts Democratic Senator Elizabeth Warren’s ROAD to Housing Act; …
Senate Approves Sweeping Housing Bill
The Senate has cleared a major housing package with strong bipartisan backing, but its path to becoming law is not assured. The bill, the most extensive housing measure to advance through Congress since 1990, passed the Senate 89-10 on Thursday and was sent to the House, the New York Times...
Senate passes bipartisan housing bill
The Senate today passed a bipartisan housing package with overwhelming support, setting up a protracted battle with House Republicans over what President Donald Trump should enact. The White House has signaled it supports the bill, which includes the president’s proposed ban on institutional investors in housing. Sen. John Kennedy, R-La., said he even “got a visit from some of the folks at the White House … encouraging us to pass it.” But the ba…
Pete Ricketts Delivers on Affordable Housing
Pete Ricketts and Senate Republicans passed the 21st Century ROAD to Housing Act today, the most significant housing reform package in decades. By cutting red tape, unlocking supply, and lowering costs, this bill will make it cheaper and easier to build homes for American families across the country. “Thanks to Senator Pete Ricketts, the dream of homeownership is in reach for more Nebraskans,” said NRSC Regional Press Secretary Nick Puglia. “Se…
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