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

A recent survey found seven in ten voters support banning major investors owning more than 350 homes from buying additional residential properties.

Despite the overwhelming margin, conservative opposition did emerge.

The 13 Republican “no” votes came largely from Freedom Caucus-aligned members objecting not to the housing provisions, but to language dealing with central bank digital currencies.

Rep. Warren Davidson explained his opposition in stark terms.

“A temporary ban is the worst of both worlds: political cover today, a clear runway tomorrow,” Davidson wrote. “Make it permanent, or take it out.”

The provision temporarily blocks a government-backed digital currency through 2030, but some conservatives fear that simply delays rather than prevents future implementation.

Now the bill moves to the Senate, where its path becomes more uncertain.

Because the House amended the Senate’s earlier version instead of passing it unchanged, lawmakers in the upper chamber must now decide whether to accept the changes, negotiate further or stall the package entirely.

The biggest flashpoint could be the removal of the forced-sale requirement for institutional landlords.

The bill also faces the Senate’s 60-vote threshold, always a major obstacle.

Still, the lopsided House vote gives the legislation strong momentum.

For Republicans, the politics are straightforward.

Housing affordability remains a top concern for voters dealing with high mortgage rates, tight inventory, and growing competition from deep-pocketed corporate buyers.

For Democrats, opposing a bill aimed at limiting investor competition in the housing market could also carry political risk.

Whether the Senate quickly advances the legislation or lets it bog down in procedural fights could determine whether Congress delivers a tangible housing win before voters head to the polls.