Senate passes major housing affordability bill by Elizabeth Warren and Tim Scott
NBC News
The Senate passed a bill Thursday aimed at boosting the supply of housing and bringing down prices, marking a rare bipartisan breakthrough on a major issue.
WASHINGTON — The Senate passed a bill Thursday aimed at boosting the supply of housing and bringing down prices, marking a rare bipartisan breakthrough on a major issue.
The 21st Century ROAD to Housing Act, written by Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., won 89 votes. Ten senators voted against it. Scott is the chairman of the Banking, Housing, and Urban Affairs Committee, and Warren is the ranking member.
The 303-page legislation creates a series of grants and pilot programs for housing construction, while revising federal definitions to encourage more housing units and prevent Wall Street from buying up tons of single-family homes.
Such a big, bipartisan vote is increasingly unusual in Congress and the bill aims to tackle a major affordability issue for voters ahead of the midterm elections. But it is uncertain if it can pass the House as is, and President Donald Trump has signaled he's not as interested in the package as he is in passing separate voting legislation.
The housing bill seeks to cut inspection delays for the Department of Housing and Urban Development by creating other avenues to satisfy requirements, while directing HUD and the Department of Agriculture to jointly coordinate environmental reviews for certain housing projects to boost construction in rural areas.
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The Senate passed a bill Thursday aimed at boosting the supply of housing and bringing down prices, marking a rare bipartisan breakthrough on a major issue.