House Passes Revised Housing Legislation by Wide Margin

The House of Representatives voted Wednesday to pass a revised version of the 21st Century ROAD to Housing Act. The legislation aims to increase housing supply and improve affordability. The bill passed by a vote of 396-13. All 13 opposing votes came from Republican lawmakers.

The White House endorsed the House version earlier on Wednesday. The Senate had previously passed its own version of the bill. House lawmakers made several changes to address concerns raised by stakeholders. One update removed exceptions that would have allowed institutional investors to purchase additional single-family homes.

The revised bill also includes community banking provisions and a temporary ban on central bank digital currencies through 2030.

Banking, Housing, and Urban Affairs Committee

Chairman Tim Scott (R-SC) and ranking member Elizabeth Warren (D-MA) issued a joint statement ahead of the House vote. They said work remains to align the two chambers on a final bill. Senate aides indicated that Scott and Warren will consult with colleagues in both parties about the updated legislation.

President Donald Trump expressed optimism that lawmakers will reach agreement on a bill to send to his desk.