Congress is expected to send a landmark, bipartisan housing affordability bill to President Donald Trump’s desk by the end of next week as the Senate and House schedule action on the legislation in the coming days.
The Senate has teed up the 21st Century ROAD to Housing Act for final passage on Monday, after completing all its necessary procedural votes this week.
The legislation will then move on to the House where GOP leadership plans to open debate on Wednesday, with a vote expected as early as the same day, according to six people familiar with the vote granted anonymity to discuss plans.
House leadership plans to suspend the rules, requiring a two-thirds majority vote, to speed up the bill’s path to Trump’s desk. Final passage could be pushed to Thursday depending on timing, the people said.
The housing bill aims to tackle housing affordability and boost homeownership and supply ahead of a midterm election dominated by cost-of-living concerns.
The four lawmakers leading the negotiations over the legislation — Senate Banking Chair Tim Scott (R-S.C.), ranking member Elizabeth Warren (D-Mass.), House Financial Services Chair French Hill (R-Ark.) and ranking member Maxine Waters (D-Calif.) — came to an agreement Tuesday afternoon after months of back and forth on the bill’s contents.
The housing affordability legislation, which the White House supports, contains a provision limiting the role of large institutional investors in the single-family housing market, which was a key condition for Trump to sign the bill.
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