Senate passes landmark housing affordability bill after bipartisan breakthrough
Summary
The U.S. Senate passed the 21st Century ROAD to Housing Act to lower housing costs by increasing supply and limiting large investors buying single-family homes. The bill received strong support from both parties and now goes to the House for approval before it can become law.Key Facts
- The Senate approved the bill by a vote of 85 to 5.
- The bill aims to raise the housing supply and reduce housing costs.
- It limits purchases of certain single-family homes by institutional investors.
- The legislation includes over 45 provisions to support affordable housing development.
- Provisions include streamlining environmental reviews and supporting veterans.
- The White House supports limiting big investors to help buyers compete.
- The House Financial Services Committee has included key priorities in the final bill.
- Lawmakers hope President Trump will sign the bill into law soon.
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