The House and the Senate have reached an agreement to pass bipartisan legislation designed to boost housing supply and help with affordability.The various sides reached a final deal on Tuesday after months of negotiations between Republicans and Democrats and the upper and lower chambers.
The agreement means the latest iteration of the 21st Century ROAD to Housing Act is poised to be approved by both the House and the Senate and be signed into law by President Donald Trump ahead of the midterm elections. This would also mark the second-biggest economic legislative achievement for Trump’s second term after last year’s tax cuts.
“This bill is the result of years of work to lower costs, expand housing supply, cut red tape, protect taxpayers, and help more Americans achieve the dream of homeownership,” Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott (R-SC) said after the deal was finalized.
The agreement on the bill came after staff-level negotiations last week between House Speaker Mike Johnson (R-LA) and Senate Majority Leader John Thune, and includes revisions to versions of the bill that already passed both the House and the Senate.
Then, this week, after input from House Financial Services Committee Chairman French Hill (R-AR) and ranking member Maxine Waters (D-CA), a few more minor tweaks were made — securing agreement on passage from the so-called “four corners,” meaning the leadership and the relevant committee leaders of both parties in the House and Senate.
