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 with ten senators voting against it.
Scott serves as chairman of the Banking, Housing, and Urban Affairs Committee, while Warren is the ranking member. The 303-page legislation creates a series of grants and pilot programs for housing construction, revises federal definitions to encourage more housing units, and aims to prevent Wall Street from buying up single-family homes.
What the Right Is Saying
Sen. Tim Scott said the bill is about fulfilling Trump's affordability agenda by 'cutting regulatory red tape, lowering costs and expanding housing supply while generating no new spending' and expanding homeownership. 'Today, the average age of a first-time homebuyer is 40,' Scott said. 'Forty years old before you ever experience the American dream. That age is too old.'
Nine Republicans voted against the bill: Sens. Ted Budd, R-N.C., Ted Cruz, R-Texas, Ron Johnson, Wis., Mike Lee, Utah, Rand Paul, Ky., Rick Scott, Fla., Thom Tillis, N.C., Tommy Tuberville, Ala., and Todd Young, Ind.
The bill still needs approval from the Republican-controlled House. House Speaker Mike Johnson, R-La., told Republican leaders and committee chairs at their annual retreat that Trump wants the SAVE America Act to be a top priority, brushing aside a GOP fight over the housing bill. According to a lawmaker who was present, Johnson told members that Trump privately stressed the importance of the SAVE America Act and said 'no one gives a (bleep) about housing.'
The White House denied that the exchange took place. Spokesman Davis Ingle said it is 'not accurate whatsoever' and that Trump 'has been laser-focused on making housing more affordable.' He said Trump 'will sign bold new executive orders on housing in the coming days.'
What the Left Is Saying
Sen. Elizabeth Warren cast the bill as an attempt at increasing housing supply and bringing down costs by taking on investors who are buying up homes and increasing prices for individuals and families. 'It will mean, for the first time, that we're moving housing prices in a better direction and beating private equity out of the system — making a very public statement that homes are for the families who live there, not for Wall Street investors who figured out another way to make a buck,' Warren told NBC News.
Sen. Raphael Warnock, D-Ga., called it a 'once-in-a-generation piece of housing legislation.' He referenced the bipartisan nature of the bill: 'If I told you that Tim Scott and Elizabeth Warren walked into a bar, it sounds like the beginning of a bad joke. But we got that through our committee. There's overwhelming support in the Senate. We're going to get this over the finish line.'
The only Democrat who voted against the bill was Sen. Brian Schatz, D-Hawaii, who argued the language in a key provision was too broad. Schatz specifically criticized a section requiring major investors who build or own at least 350 single-family homes to sell after seven years, calling it 'a very bizarre thing' and 'positively Soviet.'
What the Numbers Show
The Senate vote was 89-10 in favor of the 303-page housing bill. One senator missed the vote: Marsha Blackburn, R-Tenn.
The legislation includes a provision titled 'Homes Are For People, Not Corporations' that prohibits large institutional investors from purchasing certain single-family homes. Trump called on Congress to pass legislation banning large Wall Street firms from buying up thousands of single-family homes in his State of the Union address this year.
The bill directs HUD and the Department of Agriculture to jointly coordinate environmental reviews for certain housing projects to boost construction in rural areas. It also aims to cut inspection delays for HUD by creating alternative avenues to satisfy requirements.
A Stanford University analysis said the economic effects of the seven-year selling provision 'are likely to be limited' and that overall, '[r]educed investor activity may modestly lower prices and increase homeownership in some markets.'
The Bottom Line
The bipartisan housing bill passed with overwhelming Senate support, representing a rare legislative achievement in a divided Congress. However, its path forward is uncertain as it faces the Republican-controlled House.
Speaker Johnson has indicated that Trump prioritizes the SAVE America Act, and the president has threatened not to sign other legislation until that voting bill passes. The White House has denied reports of Trump's private comments about housing, while also promising executive orders on housing affordability.
Industry groups have raised concerns about the seven-year selling provision, though a Democratic Banking Committee aide pointed to analysis suggesting limited economic impact. With the midterm elections approaching, both parties have an opportunity to claim victory on a key voter priority, but whether the bill becomes law remains unclear.