May 20 (UPI) — The U.S. House of Representatives passed legislation Wednesday aimed at addressing housing affordability and increasing homeownership and housing supply. The bill will now return to the Senate for approval.
The 21st Century ROAD to Housing Act passed 396-13 in a bipartisan vote; all 13 “no” votes were by Republicans.
The Senate passed the original form of the bill in March. The House had stalled on it for months over some key provisions that divided Republicans but finally moved after changes led to President Donald Trump’s support, Politico reported. The White House released a statement Wednesday in praise of the bill and urging the Senate to pass the revised bill.
Trump has been focused on restrictions for institutional investors (large organizations or entities such as pension funds that invest large amounts of money for individuals or smaller entities) in housing, The New York Times reported. He had backed the original Senate bill first.
“This has been years of work in the making and months of intensive work in this 119th Congress to find a path that improves accessibility on housing for the American people and affordability for the American people that could be a bicameral and bipartisan housing measure,” said Rep. French Hill, R-Ark., and chairman of the Financial Services Committee.
The bill was a priority for both Republicans and Democrats as the midterm elections approach. Housing costs are a large and growing issue throughout the United States, and representatives from both parties have vowed to address them.
“It’s unconceivable that members of the House and the Senate would want to go home and face constituents who legitimately frustrated with housing affordability and not be able to tell them, ‘I got this bill passed,’ “said David Dworkin, president of the National Housing Coalition, in The New York Times.
The bill’s future remains uncertain after the House’s changes. Sens. Tim Scott, R-SC, and Elizabeth Warren, D-Mass., released a joint statement on it Wednesday.
“There’s still work to be done, and we are committed to continuing to work with the White House and our colleagues in the House on a housing bill that can pass the Senate and get to the president’s desk,” they said.
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