Congress passed the first major housing bill in decades on Tuesday. While it might move the needle on affordability for some Americans, the landmark legislation does not provide enough relief to renters most in need, experts say.
"It's been 30 years since we've done real substantive affordable housing legislation. For many of us, it's the first affordable housing bill in our lifetime," said David M. Dworkin, president and CEO of the National Housing Conference.
The House overwhelmingly approved the final version of the bill Tuesday. The 21st Century ROAD to Housing Act is the result of months of negotiation between both chambers of Congress. The bill scales back regulations and aligns incentives to encourage more homebuilding, while placing limits on corporate investors who buy up single-family homes to convert to rentals. Though President Donald Trump canceled Wednesday's signing ceremony for the legislation, House Speaker Mike Johnson said he expects the president to sign it in the coming days.
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Yet most of the provisions in the bipartisan bill "are not targeted at extremely low-income renters," said Libby O'Neill, senior public policy analyst at the National Low Income Housing Coalition. The organization supports the bill overall, including many of its individual provisions, but "so much more investment is needed in programs" for the lowest-income renters, she added.
