The House of Representatives passed a significant housing bill with overwhelming bipartisan support, paving the way for President Trump to sign the legislation. The vote ended months of negotiations between the House and Senate over a comprehensive measure aimed at addressing the housing crisis.
The bill passed the House by a 358-to-32 vote following the Senate’s approval of a similar version, which saw an 85 to 5 vote. President Trump is expected to quickly sign the bill into law, which marks the most substantial housing legislation in 36 years. This comes ahead of the midterm elections, where congressional majorities are at stake.
The legislation’s success underscores the bipartisan effort to tackle housing supply shortages, months before voters go to the polls. With recent surveys indicating only 33 percent of voters approve of the president’s economic management, this achievement may be a critical boost for his party.
Known as the 21st Century Road to Housing Act, the bill includes several provisions aimed at increasing housing supply nationwide. These measures address both rural and urban needs to help reduce housing costs. It simplifies federal regulations, eases lending rules, rewards communities that engage in building, and provides aid to those affected by disasters. The bill also places new limits on institutional investors, a policy favored by President Trump.
Shaun Donovan, president of Enterprise Community Partners and former HUD secretary, praised the bill as the century’s most comprehensive housing effort. He noted that its provisions directly target the major housing supply challenge currently facing the nation.