Overview
- Leaders from the House and Senate agreed on final bill text on June 16 and the Senate voted 87‑8 on a procedural motion to advance the 21st Century ROAD to Housing Act toward a final Senate vote and a subsequent House vote.
- The bill amends the Federal Reserve Act to forbid the Fed from issuing or creating a retail central bank digital currency through Dec. 31, 2030 while explicitly carving out open, permissionless, dollar‑denominated private digital assets such as certain stablecoins.
- Lawmakers inserted new limits on large institutional buyers of single‑family homes to curb private equity concentration, kept a 350‑home threshold in play, and removed an earlier Senate proposal that would have forced build‑to‑rent owners to divest properties after seven years.
- Negotiators traded provisions to build support, including a three‑year sunset for the Community Development Block Grant–Disaster Recovery program and multiple community‑bank deregulatory measures, along with technical HUD and mortgage changes meant to speed construction and support manufactured housing.
- If passed and signed by President Trump, the law would shift incentives for builders, lenders, institutional landlords and stablecoin firms, but its real‑world impact will depend on agency rulemaking, local zoning and permitting, and market reactions in the runup to the midterm elections.