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Landmark housing bill overwhelmingly passes Senate, faces uncertain future in House
The 21st Century ROAD to Housing Act passed 89-10 in the Senate, banning large investors from buying single-family homes and expanding 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.
101 Articles
101 Articles
Omaha World-Herald
Lincoln Journal StarU.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…
Hyde-Smith supports affordable housing legislation
U.S. Senator Cindy Hyde-Smith (R-Miss.), chair of the Senate Transportation, Housing and Urban Development (T-HUD) Appropriations Subcommittee, today voted for a sweeping housing affordability measure that includes priority reforms she’s supported to address housing needs in rural America. The 21st Century ROAD (Renewing Opportunity in the American Dream) to Housing Act, which the Senate passed 84-10-1, represents years of bipartisan, bicameral…
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