politics
Housing Bill Limiting Institutional Investors Becomes Law Without Trump Signature
The 21st Century ROAD to Housing Act will take effect by the end of the week regardless of President Trump's decision. The measure passed Congress in June and limits institutional purchases of single-family homes while creating mortgage pilot programs.
Jul 8, 11:30 AM·1m read1 source
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com reported. The bill was sent to the president's desk on June 29 after passing both chambers of Congress in June. President Trump canceled a scheduled signing ceremony and declined to sign the measure unless Congress advances the Safeguard American Voter Eligibility Act.
Under the Constitution, a bill becomes law if the president neither signs nor vetoes it within 10 days, excluding Sundays, while Congress is in session. The housing legislation limits large institutional investors from buying single-family homes, creates pilot programs to expand access to smaller mortgages and temporarily prohibits the Federal Reserve from establishing a digital dollar.
President Trump and House leaders reached agreement on the final text in May.
He has linked his support to progress on the SAVE Act, which would require proof of citizenship to register to vote and photo ID to cast a ballot. Senate Majority Leader John Thune stated that abolishing the filibuster to pass the SAVE Act will not work because Republicans lack sufficient votes.
