Axios · US Congress · White House · Donald Trump · Axios
Congress passes big housing bill with bipartisan support
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With rare bipartisan support, the House passed a housing bill Tuesday evening that aims to address the shortage of affordable homes in the U.S.
Key facts
- There are nearly 50 different measures in the bill, which combines various housing proposals from both sides of the aisle
- The House also relaxed a controversial measure that originally sought to ban institutional investors from owning single-family homes
- With rare bipartisan support, the House passed a housing bill Tuesday evening that aims to address the shortage of affordable homes in the U.S
- The bill, the Road to Housing Act, shows that the housing crisis is something both parties agree needs to be addressed, even as it is unlikely to bring much short-term relief for homebuyers
Summary
The bill, the Road to Housing Act, shows that the housing crisis is something both parties agree needs to be addressed, even as it is unlikely to bring much short-term relief for homebuyers. The bill, which passed in a 358-32 vote, mainly aims to relax local regulations and encourage building. The package, which cleared the Senate Monday, is being hailed as a historic breakthrough and the biggest housing bill in decades. The bill is the most significant home construction legislation since 1990, the New York Times notes.