politics
Senate Passes Landmark Housing Affordability Bill After Bipartisan Breakthrough
Washington — The Senate passed a bill aimed at lowering housing costs on Monday after a major breakthrough and rare bipartisan consensus that comes as affordability remains top of mind for voters heading into the midterm elections.
TL;DR
- Senate passed the 21st Century ROAD to Housing Act with an 85-5 vote.
- The bill aims to increase housing supply and lower costs.
- Key provisions include limiting institutional investors in single-family homes.
- Legislation seeks to remove regulatory barriers and streamline environmental reviews for affordable housing.
- It also updates manufactured housing standards and supports housing for veterans.
- The bill represents the most sweeping housing legislation in decades.
- It now heads to the House for approval.