Senate Passes Housing Bill Aimed at Cutting Costs and Expanding Supply

The Senate passed the 21st Century ROAD to Housing Act on Monday in an 85-5 vote. The legislation seeks to lower housing costs by streamlining environmental reviews, modernizing zoning rules, and expanding loan limits for multifamily construction.

Background on the Legislation The bill advanced after the House and Senate reconciled separate versions. The Senate first passed an earlier draft 89-10 on March 12, while the House approved an amended version 396-13 on May 20. Both chambers reached a final agreement Tuesday.

The measure includes provisions to raise bank investment caps in affordable housing and allow up to 20 percent of Community Development Block Grant funds for new construction. It also imposes a three-year sunset on the CDBG-DR program.

Statements from Lawmakers Republican Louisiana Sen.

John Kennedy told reporters the bill "is better than sex."

“2026 is the Year of Affordability, and the 21st Century ROAD to Housing Act gives Congress a chance to deliver a major win for families across the country." — Tim Scott, Banking, Housing and Urban Affairs Committee Chairman, June 22, 2026 Republican Arkansas Rep. French Hill said the legislation represents a "meaningful step" toward affordability and incorporates nine community banking bills along with language limiting institutional investors. Democratic Massachusetts Sen. Elizabeth Warren called the measure "the biggest housing bill in more than 30 years." House Financial Services Committee ranking member Maxine Waters described it as "meaningful progress" while noting additional work remains.”

The National Association of Home Builders called the package "historic" and said it would expand housing opportunities for buyers and renters. A spokesperson for one opponent said the measure expands programs previously targeted for elimination. U.S. housing prices rose 2.4 percent year-over-year in March, with the median single-family home price at roughly $436,523.