President’s desk in sight for ROAD to Housing Act as Senate passes landmark bill

Senate approves legislation by a 85-5 tally, sending bipartisan bill one step closer to completion

President’s desk in sight for ROAD to Housing Act as Senate passes landmark bill

Senate approves legislation by a 85-5 tally, sending bipartisan bill one step closer to completion
President's desk in sight for ROAD to Housing Act as Senate passes landmark bill.

One more hurdle has been passed as the 21st Century ROAD to Housing Act nears its final destination — the president’s desk.

The bipartisan housing legislation passed in the Senate on Monday afternoon, 85-5, and will now move back to the House of Representatives, which is expected to review and send the legislation to President Donald Trump in the coming days.

Senators Tim Scott, R-S.C., chairman of the Committee on Banking, Housing, and Urban Affairs, and Elizabeth Warren, D-Mass., the committee’s ranking member, called the vote “an important step toward addressing America’s housing affordability crisis and giving families across this country a fair shot at the American Dream.”

The legislation had seesawed back and forth between the chambers over the past year. The U.S. House of Representatives advanced a revised version of the housing package on May 20.

“This bill reflects years of work and priorities from the White House, Senate and House to build a housing affordability package that puts families first, increases supply, expands access to affordable housing and addresses the housing crisis,” Scott and Warren’s statement reads. “This is a strong, bipartisan, bicameral product that can pass both chambers and become law. We will keep working together to get this across the finish line and deliver relief for families across the country.”

Trade groups were quick to applaud the passage.

The Mortgage Bankers Association (MBA) praised the lawmakers’ “commitment to finding common ground and advancing practical solutions” that led to the passage.

“The legislation preserves many of the hard-fought policy priorities that MBA has advocated for throughout this debate and will increase HUD’s multifamily loan limits for the first time since 2003,” the association stated in a press release, saying it would “reduce barriers to development and increase housing supply, modernize federal housing programs and expand access to affordable mortgage credit.”

The MBA urged House members for “swift passage so it can be sent to President Trump for signature as soon as possible. Enactment of these reforms would expand housing opportunities, lower costs, help more Americans achieve and sustain homeownership, and support a healthier, more affordable rental housing market for families across the country.”

David Dworkin, president and CEO of the National Housing Conference, said the Senate passage “proves that Congress can act when the need is urgent and the coalition is broad enough. The housing community has spent years building that coalition. This bill is evidence that the effort was worth it.”

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