House passes sweeping bill to lower housing costs, sending it to Trump’s desk

Key Points:

• The House passed the 21st Century ROAD to Housing Act with a 358-32 vote, following Senate approval, and it is expected to be signed into law by President Donald Trump, marking a rare bipartisan success on housing affordability.
• The bill aims to increase housing supply through grant funding, pilot programs, regulatory easing, and empowering local governments to expedite housing reviews, while limiting large institutional investors from buying single-family homes.
• Key bipartisan cooperation between Senators Tim Scott, Elizabeth Warren, and Representatives French Hill and Maxine Waters helped resolve months-long disputes and advance the legislation.
• The bill addresses voter concerns about housing costs, a top issue ahead of the midterm elections, with provisions targeting private equity investors accused of driving up prices and making homeownership harder for working families.
• Both parties claim political credit for the bill, with Democrats emphasizing protections against Wall Street landlords and Republicans highlighting deregulatory measures to boost housing supply.