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Congress Clears Housing Bill, Cementing a Rare Bipartisan Feat
The New York Times • • nation
Key Points:
- The House passed a landmark housing bill with a 358-to-32 vote, following the Senate's 85-to-5 approval, marking a rare bipartisan achievement ahead of the midterm elections.
- The 21st Century Road to Housing Act aims to address the nationwide housing shortage by increasing supply through eased federal regulations, streamlined building processes, and incentivizing communities to build more homes.
- The bill includes provisions to assist disaster-affected communities, relax lending rules, and limit institutional investors' roles in the housing market, a key point supported by President Trump.
- President Trump is expected to sign the bill into law, securing a significant legislative victory for his party amid low approval ratings on economic management.
- Housing experts, including former HUD Secretary Shaun Donovan, praise the bill as the most comprehensive housing legislation in decades, targeting the critical issue of housing affordability.
