The Senate approved the 21st Century ROAD to Housing Act on Monday in an 85-5 vote, sending the bipartisan package to the House after rare agreement across the aisle on lowering housing costs by increasing supply and limiting institutional purchases of certain
By the time senators took the final vote on Monday, the message was clear: housing affordability is still the issue voters circle first—and lawmakers, briefly, decided to move.
The Senate passed the 21st Century ROAD to Housing Act on Monday after a major breakthrough and a rare bipartisan consensus. The chamber approved the legislation in an 85-5 vote. The bill now heads to the House for approval.
The package is designed to lower housing costs by increasing housing supply. It also includes a provision aimed at limiting institutional investors from purchasing certain single-family homes—an approach the White House has pushed as a way to reduce competition for homebuyers and improve affordability.
The bill’s path to Monday’s vote has been marked by step-by-step momentum. The Senate approved an earlier version of the package in March. The House approved another version in May. Then last week, the Senate Banking and House Financial Services committees announced a bicameral agreement on the long-sought legislation.
Sen. Tim Scott of South Carolina. chairman of the Senate Banking Committee. framed Monday’s vote as the culmination of years of work. In a statement. he said it was the result of “years of work to lower costs. expand housing supply. cut red tape. protect taxpayers. and help more Americans achieve the dream of homeownership.” He added. “Now it is time to move forward. get this bill across the finish line. and deliver real relief for the American people.”.
On the Senate floor last week, Sen. Elizabeth Warren of Massachusetts—the top Democrat on the Banking Committee—walked through what she described as a wide range of changes. The legislation would remove some regulatory barriers and streamline environmental reviews to increase development of affordable housing. It would also update chassis requirements for manufactured housing. create an innovation fund for communities increasing housing supply. and support housing opportunities for veterans. among other provisions.
“There is so much in this bill,” Warren said. “Each piece, directing us toward increasing the supply of housing, bringing down the cost, and making housing something that is not just a Wall Street investment, but is actually there for American families.”
Warren’s focus on “Wall Street” wasn’t incidental. The single-family investment limitation has been one of the most prominent features of the bill, with supporters arguing it would benefit homebuyers by cutting competition.
In the House, committee leaders have also been putting their stamp on the deal that lawmakers reached. GOP Rep. French Hill of Arkansas. chairman of the House Financial Services Committee. touted adoption of “key House priorities” in the final text in a statement last week. Hill pointed to nine community banking bills and the language limiting institutional investors. He said. “This bill is a meaningful step toward increasing housing supply. improving affordability. and helping more Americans achieve homeownership. ” and added. “I look forward to President Trump signing it into law.”.
Rep. Maxine Waters of California, the top Democrat on the House Financial Services Committee, also celebrated the agreement. She said. while “no compromise is perfect. ” the legislation reflects “meaningful progress.” Waters added. “This is an important step forward. not the final destination. ” and said she would continue working to lower housing costs. address homelessness. expand affordable housing. and ensure “every family has access to a safe and stable place to call home.”.
The bill’s movement is happening during an election year, when affordability remains top of mind for voters heading into the midterm elections. Lawmakers are also acting amid frustration with a Congress that has been “marred in recent months by gridlock and obstruction.”
The rare bipartisan step landed with a clear sense of political timing on both sides. When the Senate advanced the bill last week. Senate Majority Leader John Thune touted it as “a significant bill to make life more affordable for hardworking Americans. ” calling it “just the latest item on Republicans’ agenda to address the cost of living.” He said. “I look forward to getting this bill through Congress in short order. sending it to the president’s desk and delivering another major win for the American people. ” adding the South Dakota Republican’s hope of swift passage.
Senate Minority Leader Chuck Schumer said the bipartisan bill “shows Americans how we should govern.” He pointed to the unusual cooperation itself. noting that “the fact that Democrats and Republicans were able to come together on the ROAD to Housing. at a time of such division. shows just how dire America’s housing crisis is today.” Schumer said. “I’m pleased we’ve seized this opportunity to come up with a reasonable. bipartisan solution to help the American people — opportunities that have become few and far between thanks to the chaos coming out of the White House. ” adding. “This is how Americans want Congress to govern.”.
With the Senate vote now done. attention shifts to the House. which is returning from recess this week and is expected to move quickly on the bill. If lawmakers keep pace. the legislation could reach the president’s desk soon—turning a rare bipartisan breakthrough into a concrete attempt to change housing costs for millions of Americans.
Senate passes 21st Century ROAD to Housing Act housing affordability institutional investors single-family homes Tim Scott Elizabeth Warren French Hill Maxine Waters John Thune Chuck Schumer House approval manufactured housing environmental reviews