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Landmark housing bill overwhelmingly passes Senate, faces uncertain future in House
The bipartisan bill passed 89-10 in the Senate aims to boost housing supply, limit large investor purchases, and streamline construction to lower costs amid a national 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.
108 Articles
108 Articles
Senate passes bipartisan housing affordability bill
What happenedThe Senate on Thursday approved bipartisan legislation aimed at making housing more affordable and accessible. The bill, sponsored by Sens. Tim Scott (R-S.C.) and Elizabeth Warren (D-Mass.), passed 89-10. The legislation’s “roughly 40 provisions” encourage local governments to expand housing development, make it easier to build and finance modular and manufactured housing, remove regulatory barriers and bar institutional investors f…
Omaha World-Herald
U.S. Senate passes housing affordability bill that could help rural Nebraskans
The U.S. Senate passed a landmark housing bill that includes Nebraska Republican Sen. Pete Ricketts' bill aimed at increasing affordable housing in rural parts of Nebraska.
By Samantha Delouya, CNN - A bipartisan group of U.S. senators passed a bill Thursday aimed at improving housing affordability. The measure contains roughly 40 provisions to increase the supply of housing and lower costs. It remains to be seen whether the House of Representatives will pass it as is, and it comes a month after the House passed a similar, albeit scaled-down, package. The Senate bill, called the 21st Century Road to Housing Act, is…
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