A sweeping housing bill sailed through the Senate on Monday and is expected to move quickly in the House early this week, potentially giving both parties a win on the issue of lowering home costs.
The Senate passed the bill with overwhelming bipartisan support, 85-5. An aide to Speaker Mike Johnson, R-La., said the House could act on the legislation as soon as Tuesday under suspension of the rules, which requires backing from two-thirds of members present and voting for approval.
The bill could be signed into law by the end of the week — a bipartisan bright spot in an otherwise bleak year for reaching agreements across the aisle.
One key to securing President Donald Trump’s backing was inclusion of a top White House housing priority: a ban on institutional investor ownership of more than 350 single-family homes, with certain exceptions including for properties built specifically to be leased.
Inclusion of that language, which went through several iterations in talks with industry groups, won approval from populist lawmakers across Capitol Hill, including Senate Banking Committee ranking member Elizabeth Warren, D-Mass., who rarely agrees with Trump on anything.
