The U.S. Capitol is shown in Washington, D.C. On Tuesday, the House of Representatives passed a bill aimed at addressing housing affordability and increasing homeownership and housing supply. File Photo by Bonnie Cash/UPI | License Photo
May 20 (UPI) -- The U.S. House of Representatives passed legislation Wednesday aimed at addressing housing affordability and increasing homeownership and housing supply. The bill will now return to the Senate for approval.
The 21st Century ROAD to Housing Act passed 396-13 in a bipartisan vote; all 13 "no" votes were by Republicans.
The Senate passed the original form of the bill in March. The House had stalled on it for months over some key provisions that divided Republicans but finally moved after changes led to President Donald Trump's support, Politico reported. The White House released a statement Wednesday in praise of the bill and urging the Senate to pass the revised bill.
Trump has been focused on restrictions for institutional investors (large organizations or entities such as pension funds that invest large amounts of money for individuals or smaller entities) in housing, The New York Times reported. He had backed the original Senate bill first.
