The bipartisan, bicameral housing package called the 21st Century ROAD to Housing Act became law over the weekend.
The housing bill passed in both the House and the Senate in late June and the president has 10 days to sign it into law. While President Donald Trump did not sign the legislation, he did not veto it either, which means it became law after 10 days.
The 21st Century ROAD to Housing Act (H.R. 6644) reduces unnecessary regulatory barriers to new home construction, modernizes HUD programs, addresses concerns about large investors unfairly competing with individual homebuyers, and enables community banks to deploy funding more freely. It also includes a prohibition on the issuance of a Central Bank Digital Currency (CBDC) until Dec. 31, 2030.
“Homeownership should be within reach for more Americans, and this law moves us closer to that goal. This bill reduces unnecessary barriers to building, strengthens community banks, and ensures families – not institutional investors – have a fair shot at buying a home. The final product reflects years of bipartisan, bicameral collaboration and proves that when Congress stays focused on results, we can deliver meaningful reforms,” Rep. French Hill (R-AR), chairman of the House Financial Services Committee, said.
Sen. Tim, Scott (R-SC, chair of the Senate Banking Committee, called it the most comprehensive housing policy bill this century.
“Today, the American Dream is a little more within reach for families across this country,” Scott said. “The 21st Century ROAD to Housing Act will help more Americans plant roots, build stability, and pass opportunity to the next generation. President Trump and Republicans understand that families need results, not more excuses, and we are leading on the priorities that matter most: making life more affordable, strengthening our communities, and keeping the American Dream alive.”
The bill has garnered the support of many organizations including the AARP, Airbnb, American Bankers Association, American FinTech Council, American Land Title Association, American Planning Association, Appraisal Institute, Bipartisan Policy Center Action, Home Depot, Independent Community Bankers of America, Manufactured Housing Institute, Mortgage Bankers Association, National Apartment Association, National Association of Affordable Housing Lenders, National Association of Home Builders, National Association of Realtors, National Lumber and Building Materials Dealers Association, National Association of Mortgage Brokers, The Real Estate Roundtable, U.S. Chamber of Commerce, U.S. Conference of Mayors, Veterans Association of Real Estate Professionals, Veterans United, Window & Door Manufactures Association, and Zillow.