Sounds good
House passes sweeping bill to lower housing costs, sending it to Trump’s desk
The bill, a rare bipartisan breakthrough this Congress, will seek to build new homes and restrict large investors’ buying up single-family homes.
The bill, a rare bipartisan breakthrough this Congress, will seek to build new homes and restrict large investors’ buying up single-family homes.
The bill passed 358-32 one day after it cleared the Senate by a vote of 85-5. It now goes to President Donald Trump, who is supportive and is expected to sign it into law.
It is a rare bipartisan achievement for a largely gridlocked Congress in Trump’s second term, giving Republicans, who control both chambers, a desperately needed victory on the politically potent issue of lowering costs just months ahead of the midterm elections.
The 21st Century ROAD to Housing Act includes grant funding and pilot programs to build new homes. It would also ease some regulations and empower local governments to expedite reviews to build housing. And a key section titled “Homes Are For People, Not Corporations” would limit any “large institutional investor” from buying single-family homes.
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