Following President Donald Trump’s push for the House to pass the Senate-approved ROAD to Housing Act on Monday, the House decided to advance its own housing legislation, which garnered close to 90 votes.
playing cards I wrote
As I mentioned in my State of the Union speech on February 25th, the American dream of homeownership faces significant challenges. Take, for instance, Rachel Wiggins, a Houston mother of two. She made bids on 20 different homes, only to lose them to large investment firms. These companies skipped inspections and paid in cash, turning the homes into rentals and essentially hijacking the American Dream. It was heartbreaking for her. This is why I enacted an executive order prohibiting large Wall Street firms from acquiring single-family homes.
During my address, I urged Congress to safeguard the American dream of homeownership by implementing a permanent ban on such acquisitions. Senators Bernie Moreno and Tim Scott worked diligently to bring my vision to life, leading to the bill’s passage in the Senate with nearly 90 votes. I’m asking Congress to pass the ROAD to 21st Century Housing Act, which will make housing accessible for individuals, not corporations. Thank you for considering this issue. President Donald J. Trump
“The American Dream isn’t just for the highest bidder on Wall Street. It belongs to hardworking Americans who save and adhere to the rules. I commend President Trump for his leadership on this matter and urge the House to pass this bill,” Vice President J.D. Vance expressed on X.
The ROAD to Housing Act seeks to make housing more affordable by eliminating bureaucratic hurdles, increasing housing supply, and reducing costs for families.
House Financial Services Committee Chairman French Hill (R-Ark.) is reportedly opposing the Senate housing bill, which had received nearly 90 votes in the Senate.
When asked for comments, a spokesperson for Mr. Hill stated, “We are dedicated to advancing a bicameral housing bill that incorporates the perspectives of both chambers before it reaches President Trump.”
House Majority Leader Steve Scalise (R-Louisiana) mentioned that the House would persist in working on its own housing legislation, irrespective of President Trump’s call to pass the Senate bill.
“Our goal is to develop a proposal that combines the best aspects. Clearly, there are significant differences between the House and Senate versions, and we have reasons for the approach we’ve taken,” he remarked, referencing the president’s appreciation for several aspects of housing law.
House members appear inclined to adjust a Senate bill intended to limit institutional investors from acquiring single-family homes, voicing concerns that the bill could inhibit housing construction.
Some Republicans in the House have expressed discontent with legislation that temporarily blocks the establishment of central bank digital currencies (CBDCs). Certain GOP lawmakers are advocating for a permanent ban on CBDCs within a bill aimed at reauthorizing Section 702 of the Foreign Intelligence Surveillance Act (FISA).
In the Senate, Tim Scott (R-S.C.), who chairs the Senate Banking Committee, stated, “Passing the 21st Century ROAD to Housing Act will fulfill your agenda and ensure that 2026 becomes the year of genuine affordability.”
Senate Majority Leader John Thune (R-South Dakota) highlighted the urgent need for the House to swiftly pass the ROAD to Housing Act, emphasizing the focus on affordability as midterm elections approach.
Senator Bernie Moreno (R-Ohio) expressed, “President Trump is correct. The American dream of homeownership is being threatened by corporate greed that limits opportunities for working Americans. I implemented an executive order to ban these purchases, facilitated its passage in the Senate, and now the president is asking the House to codify it into law. Homes should be owned by people, not hedge funds or corporations.”
