Investor ban on buying homes stalls housing affordability bill
CNBC
A bill to increase housing supply and decrease costs is set to sail through the Senate on Thursday, but House leaders foresee further negotiations.
A major housing affordability bill poised to clear the Senate as soon as Thursday will hit a wall in the House, in part over concerns about a ban on major investors from buying single-family homes.
During a meeting at the House Republican retreat this week attended by the party's leaders and committee chairs, Majority Leader Steve Scalise, R-La., predicted the housing measure is likely to bog down due to differences between the House and Senate versions. He said that if the Senate doesn't address wide-ranging concerns from House members and House Financial Services Chair French Hill, the bill is likely to require discussions between the House and Senate before it could become law.
"If the Senate thinks we're gonna take this medicine, we're gonna go to conference" committee, Scalise said according to three attendees, who spoke on condition of anonymity to discuss the closed-door meeting. A conference committee is made up of lawmakers from both chambers who are charged with reconciling differences between legislation that's been approved by the House and Senate.
Federal Reserve Chair Jerome Powell has said he is being investigated ostensibly for comments he made about the pricey renovations of the Fed's headquarters.
The United States government could end up paying $165 billion of more in refunds for Trump's IEEPA tariffs that the Supreme Court ruled were illegal.
Iran's threat to the Strait of Hormuz can't be fixed by releasing oil from strategic petroleum reserves.
The House Oversight Committee has called in Tova Noel, who was working at the time of Jeffrey Epstein's death, for a deposition later this month.
Oil prices have skyrocketed in the days since President Donald Trump's war on Iran began.
Russian leaders told President Trump they aren't sharing intelligence with Iran as it fights the U.S. and Israel, Special Envoy Steve Witkoff said this week.
It comes at a time when the Caribbean island is grappling with a worsening economic crisis.
Analysts say any attempt to attack or seize Iran’s strategic oil hub is likely to be fraught with risk.
The Strait of Hormuz, the world's most critical chokepoint for oil shipments, has been effectively closed since the U.S. and Israel began the war on Iran.
His comments to CNBC come as the U.S. and Israeli-led war appears poised to enter its third week.
The U.S. Central Command said that the loss was "not due to hostile or enemy fire."
The State Department said this week that 36,000 Americans had returned to the U.S. after the start of the war with Iran.
The Strait of Hormuz has been effectively closed to shipping because of the war against Iran by the U.S. and Israel.