On June 23, 2026, the House of Representatives passed a housing bill known as the Road to Housing Act with a vote of 358-32. The bill aims to address the shortage of affordable homes in the United States by relaxing local regulations to encourage construction. It will now be sent to President Trump for his approval.
The Senate had previously passed a version of the bill with an 85-5 vote. This version includes a modified measure regarding private equity firms, which will not require divestment of properties but will limit their ability to purchase more than 350 homes at once. Senator Elizabeth Warren (D-Mass.), one of the bill's architects, emphasized the significance of this measure in regulating private equity's influence on housing.
The legislation includes nearly 50 different measures, combining various proposals from both parties. One notable provision, the Build Now Act, incentivizes localities to increase housing construction by reallocating federal funding. Another provision aims to simplify and reduce costs for building manufactured housing.
However, the bill does not address high mortgage rates and rising home prices, which are significant issues in the real estate market. Senator Tim Scott (R-S.C.) noted that these factors are largely influenced by market forces and the Federal Reserve, which the bill cannot control. He also pointed out the challenge of balancing the interests of current homeowners and first-time buyers.
Additionally, the bill includes a provision that prohibits the federal government from issuing a digital dollar, a point of contention within the cryptocurrency industry. The inclusion of this provision was seen as a necessary compromise to secure support for the bill.
Senator Warren concluded that while the bill is substantial, it is not a comprehensive solution to the housing crisis, indicating that further action is needed.