Senate approves sweeping bipartisan housing bill, but roadblocks remain in the House
CBSN
Washington — The Senate approved a package of bills aimed at lowering housing costs on Thursday, the most sweeping housing legislation in decades and a rare point of bipartisan consensus in an election year, with the issue of affordability top of mind for many voters.
Washington — The Senate approved a package of bills aimed at lowering housing costs on Thursday, the most sweeping housing legislation in decades and a rare point of bipartisan consensus in an election year, with the issue of affordability top of mind for many voters.
But the path forward in the House remains uncertain given conservative opposition to some portions of the bill, despite support from President Trump.
The Senate passed the measure, known as the 21st Century ROAD to Housing Act, by a wide bipartisan margin of 89 to 10. The senators who voted against the bill were Democrat Brian Schatz of Hawaii and Republicans Ted Budd of North Carolina, Ted Cruz of Texas, Ron Johnson of Wisconsin, Mike Lee of Utah, Rand Paul of Kentucky, Rick Scott of Florida, Thom Tillis of North Carolina, Tommy Tuberville of Alabama and Todd Young of Indiana.
Sponsored by Sens. Elizabeth Warren, a Massachusetts Democrat, and Tim Scott, a South Carolina Republican, the bill aims to streamline the building of new homes and ease regulations to cut costs. It would also prohibit institutional investors from purchasing single-family homes, a provision that the White House has sought.
Proponents of the bill have lauded it as the largest and most significant housing package in a generation. The bill limits institutional investors from buying single-family homes, which supporters say would cut competition and benefit homebuyers.
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Washington — The Senate approved a package of bills aimed at lowering housing costs on Thursday, the most sweeping housing legislation in decades and a rare point of bipartisan consensus in an election year, with the issue of affordability top of mind for many voters.
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