{"id":85977,"date":"2026-06-25T06:11:43","date_gmt":"2026-06-25T06:11:43","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/senate-passes-landmark-housing-affordability-bill-after-bipartisan-breakthrough\/"},"modified":"2026-06-25T06:11:43","modified_gmt":"2026-06-25T06:11:43","slug":"senate-passes-landmark-housing-affordability-bill-after-bipartisan-breakthrough","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/senate-passes-landmark-housing-affordability-bill-after-bipartisan-breakthrough\/","title":{"rendered":"Senate passes landmark housing affordability bill after bipartisan breakthrough"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p><em>Washington \u2014 <\/em>The Senate passed a bill <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/road-to-housing-act-home-prices-senate\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">aimed at lowering housing costs<\/a><\/span> on Monday after a major breakthrough and rare bipartisan consensus that comes as affordability remains top of mind for voters heading into the midterm elections. \u00a0<\/p>\n<p>In an 85-5 vote, the Senate approved the legislation along wide bipartisan margins. It now heads to the House for approval.\u00a0<\/p>\n<p>The bill, known as the 21st Century ROAD to Housing Act, aims to increase housing supply and bring down costs, including by limiting institutional investors from purchasing certain single-family homes.<\/p>\n<p>The Senate approved an <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/senate-housing-bill-21st-century-road-to-housing-act\/\" data-invalid-url-rewritten-http=\"\">earlier version of the package<\/a><\/span> in March, before the House in May approved another version. Then last week, the Senate Banking and House Financial Services committees announced a bicameral agreement on the long-sought legislation.<\/p>\n<p>The bill represents the most sweeping housing legislation in decades. Sen. Tim Scott of South Carolina, the chairman of the Senate Banking Committee, said in a statement that it was the result of &#8220;years of work to lower costs, expand housing supply, cut red tape, protect taxpayers, and help more Americans achieve the dream of homeownership.&#8221;<\/p>\n<p>&#8220;Now it is time to move forward, get this bill across the finish line, and deliver real relief for the American people,&#8221; Scott said.\u00a0<\/p>\n<p>Speaking from the Senate floor last week, Sen. Elizabeth Warren of Massachusetts, the top Democrat on the Banking Committee, outlined some of the bill&#8217;s more than 45 housing provisions. The legislation would remove some regulatory barriers and streamline environmental reviews to increase development of affordable housing; update chassis requirements for manufactured housing; create an innovation fund for communities increasing housing supply; and support housing opportunities for veterans, among other things.\u00a0<\/p>\n<p>&#8220;There is so much in this bill,&#8221; Warren said. &#8220;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.&#8221;<\/p>\n<p>The White House has pushed for the provision limiting purchases of single-family homes by institutional investors, which proponents say would benefit homebuyers by cutting competition.<\/p>\n<p>The legislation now heads to the House, which is returning from recess this week and is expected to move quickly.<\/p>\n<p>GOP Rep. French Hill of Arkansas, the chairman of the House Financial Services Committee, touted the adoption of &#8220;key House priorities&#8221; in the final text of the bill in a statement last week, pointing to nine community banking bills and the language limiting institutional investors.\u00a0<\/p>\n<p>&#8220;This bill is a meaningful step toward increasing housing supply, improving affordability, and helping more Americans achieve homeownership,&#8221; Hill said. &#8220;I look forward to President Trump signing it into law.&#8221;<\/p>\n<p>Rep. Maxine Waters of California, the top Democrat on the House Financial Services Committee, also cheered the final agreement. She noted that while &#8220;no compromise is perfect, this legislation reflects meaningful progress.&#8221;<\/p>\n<p>&#8220;This is an important step forward, not the final destination,&#8221; Waters said. &#8220;I look forward to continuing my work to lower housing costs, address homelessness, expand affordable housing, and ensure every family has access to a safe and stable place to call home.&#8221;<\/p>\n<p>The bill&#8217;s progress marks a major and rare bipartisan achievement during an election year, and comes as Congress has been marred in recent months by gridlock and obstruction. But with the affordability issue&#8217;s continued salience for Americans, lawmakers are moving forward in bipartisan fashion as the midterm elections approach.\u00a0<\/p>\n<p>When the Senate advanced the bill last week, Senate Majority Leader John Thune touted the legislation as &#8220;a significant bill to make life more affordable for hardworking Americans,&#8221; while adding that &#8220;it&#8217;s just the latest item on Republicans&#8217; agenda to address the cost of living.&#8221;<\/p>\n<p>&#8220;I look forward to getting this bill through Congress in short order, sending it to the president&#8217;s desk and delivering another major win for the American people,&#8221; the South Dakota Republican said.\u00a0<\/p>\n<p>Senate Minority Leader Chuck Schumer said the bipartisan bill &#8220;shows Americans how we should govern,&#8221; while noting that &#8220;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&#8217;s housing crisis is today.&#8221;<\/p>\n<p>&#8220;I&#8217;m pleased we&#8217;ve seized this opportunity to come up with a reasonable, bipartisan solution to help the American people \u2014 opportunities that have become few and far between thanks to the chaos coming out of the White House,&#8221; the New York Democrat added. &#8220;This is how Americans want Congress to govern.&#8221;<\/p>\n<section class=\"content__body--footer\">\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<div class=\"component__item-recirc-block\">\n<p><h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/senate-passes-landmark-housing-affordability-bill\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington \u2014 The Senate passed a bill aimed at lowering housing costs on Monday after a major breakthrough and rare<\/p>\n","protected":false},"author":1,"featured_media":85978,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[1162,3226,899],"class_list":["post-85977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-affordable-housing","tag-housing-crisis","tag-united-states-senate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Senate passes landmark housing affordability bill after bipartisan breakthrough - World News<\/title>\n<meta name=\"description\" content=\"The Senate passed a bill aimed at lowering housing costs on Monday after a major breakthrough and rare bipartisan consensus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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