Overview
- The Senate approved the 21st Century ROAD to Housing Act in an 89–10 vote, advancing a package billed as the most significant federal push in years to expand housing supply and lower costs.
- The legislation streamlines federal environmental reviews, eases conversions of vacant buildings, expands financing tools and grants, and modernizes manufactured housing by ending the permanent chassis requirement.
- A Trump-backed provision caps institutional ownership of single-family homes at 350 and requires large investors that build or buy such homes to sell them after seven years, with protections for tenants outlined in the bill.
- Some senators and housing industry groups warn the ownership cap and seven-year sell rule could curb build-to-rent projects and reduce rental supply.
- The House previously passed a different bill and key Republicans now object to the Senate changes, including a temporary ban on a central bank digital currency, as the White House signals support for the Senate text but the president prioritizes other legislation.