Senate Passes Bill to End Wasteful Penny Production, Fix Cash Transactions

The amended 21st Century ROAD to Housing Act passed by a commanding 396-13 vote, sending the legislation to the Senate and giving Republicans a potential cost-of-living win heading into the midterm elections.

House leaders framed the bill as a direct response to the housing affordability crisis squeezing millions of Americans.

Speaker Mike Johnson argued the stakes could not be bigger

“Increased housing costs and lack of quality supply are two issues that impact nearly every American family,” Johnson said.

He called the legislation a “strong bipartisan package that will put more American families into homes.”

House Majority Leader Steve Scalise made a similar argument.

“This is something that every American in this country is going to be happy to see, to have lower housing costs,” Scalise said.

At the center of the legislation is a provision aimed at institutional investors.

The House version preserves a ban on large corporate investors buying newly built single-family homes, a priority backed by the Trump administration.

House Financial Services Committee Chairman French Hill said the bill directly aligns with President Donald Trump’s housing agenda.

“This bill prioritizes American families by expanding homeownership, enhancing affordability, reducing burdensome regulations that drive up costs, and increasing housing supply nationwide,” Hill said.

“Importantly, it delivers on President Trump’s call to limit institutional investors from competing with the American people as they seek to purchase a home.”

A White House official confirmed support.

“The White House supports the House’s housing bill thanks to the changes that were made,” the official said.

The House, however, rejected a tougher Senate-backed provision that would have forced large institutional landlords already holding single-family rental homes to sell them off within seven years.

That proposal had support from progressives, including Sen. Elizabeth Warren, but House lawmakers opted for a narrower approach that targets future purchases without forcing divestitures that could disrupt renters.

Polling suggests the political move may be popular.