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9h ago

Senate Sends 21st Century ROAD to Housing Act to the House

The bill caps large institutional ownership of single‑family homes, leaves rulemaking to federal agencies and local zoning, and aims to speed housing construction to ease affordability pressures.

A person maintains the grounds in front of the U.S. Capitol building, on Capitol Hill in Washington, D.C., U.S., June 3, 2026. REUTERS/Kylie Cooper
Sen. Tim Scott, R-S.C., asks questions following Treasury Secretary Scott Bessent's testimony before the Senate Committee on Finance hearing to examine the President's proposed budget request for fiscal year 2027, Wednesday, June 3, 2026 in Washington. (AP Photo/Allison Robbert)
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Overview

  • The Senate approved the reconciled 21st Century ROAD to Housing Act in an 85‑5 vote Monday and sent the package to the House, which is expected to act quickly to send it to President Trump.
  • The final compromise restricts corporate ownership of single‑family homes by setting a 350‑home cap for institutional buyers and removes an earlier Senate rule that would have forced certain build‑to‑rent properties to be sold after seven years.
  • The bill bundles roughly 45–60 measures that streamline or waive some environmental reviews, speed permitting, expand manufactured‑housing rules, and create grants and pilot programs to convert vacant buildings and spur local building.
  • Lawmakers pared back large new spending so the package is presented as largely deficit‑neutral; it does not provide major new, recurring federal funding for affordable housing programs.
  • Real‑world effects will depend on agency rulemaking, state and local zoning changes, construction labor and material costs, and how communities use linked federal incentives, making outcomes likely to vary by region.