The Senate has advanced a Trump-backed housing package that supporters say is aimed at helping Americans move from renting into ownership as high prices keep many buyers out of the market.
The 21st Century Road to Housing Act was sent to the House on Monday after months of delay and a deal last week between leaders of the House Financial Services Committee and the Senate Banking Committee. The bill now moves into the next stage of a Congress under pressure to respond to housing costs before the midterm elections.
The package contains nearly 60 provisions. It would roll back some permitting rules, create pilot grant programs for building and repairing housing, update rules for manufactured homes and block certain investor purchases of housing stock.
Sen. Elizabeth Warren, one of the lawmakers behind the proposal, said the bill was “not the federal government big footing local government,” but a set of smaller federal changes meant to work through existing programs.
“This is a housing package that will help increase supply and bring down costs,” Warren said. “One way is by beating back private equity, so they won’t invade your neighborhood, buy up all the houses, and turn America into a nation of renters.”
Republican Sen. Bernie Moreno said one provision would give state and local governments pre-approved housing designs to speed construction. He said the bill tells communities: “Hey, guys, you really have to drive down the cost of housing, and you do that by not torturing homebuilders.”
But not everyone was satisfied. Sen. Alan Armstrong said the legislation “fails to meaningfully address” housing costs and argued that permitting reform should be handled in a fuller effort.
The bill does not add new federal funding. Its next test is whether House lawmakers accept a Senate package built around supply, investor limits and smaller regulatory changes.
