The US Senate passed a bipartisan housing affordability bill on Monday with an overwhelming vote of 85-5. The legislation, called the 21st Century Road to Housing Act, now heads to the House of Representatives for consideration.
The bill aims to lower housing costs through multiple mechanisms, including streamlining construction and permitting processes, limiting investors’ ability to purchase homes, and waiving some federal permitting rules to ease new construction. It also authorizes pilot programs to facilitate grants for home improvements and planning affordable housing.
The rare show of near-unanimous bipartisan support reflects lawmakers’ focus on affordability issues ahead of November’s midterm elections, where rising costs have been a central campaign concern. Both parties view housing affordability as a priority they can highlight to constituents during the election cycle.
The bill was crafted in both chambers and seeks to address housing supply shortages while preventing large investors from outbidding families for homes. Its passage in the Senate now moves it to the House for further consideration.
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