House Passes Housing for the 21st Century Act 390-9, Advances Financial Stability and Taiwan Deterrence Measures
The House convened for a major legislative day, passing four consequential bills under suspension of the rules. The most significant measure, the Housing for the 21st Century Act (H.R. 6644), passed with overwhelming bipartisan support (390-9), aiming to increase housing supply, reduce regulatory burdens, and modernize housing programs. Other key bills passed include the Financial Stability Oversight Council Improvement Act of 2025 (H.R. 3682), the Bringing the Discount Window into the 21st Century Act (H.R. 3390), and the PROTECT Taiwan Act (H.R. 1531), which seeks to deter Chinese aggression towards Taiwan.
This chamber-day is significant due to the passage of multiple substantive bills addressing critical national issues. The Housing for the 21st Century Act represents a broad, bipartisan effort to tackle the ongoing housing affordability crisis by streamlining regulations and enhancing financial mechanisms. The financial stability bills aim to strengthen the banking system's resilience, while the PROTECT Taiwan Act signals a strong U.S. stance against potential Chinese aggression, with direct economic and diplomatic consequences for China.
Housing for the 21st Century Act
H.R. 6644Question before the chamber
The question was on the motion to suspend the rules and pass the bill (H.R. 6644) a bill to increase the supply of housing in America, and for other purposes, as amended.
The case for
Proponents argued that the bill addresses the housing affordability crisis by increasing housing supply, lowering costs, and streamlining Federal and local housing processes. They emphasized cutting regulatory red tape, modernizing HUD programs, and empowering local communities. Specific provisions highlighted included right-sizing environmental reviews for HUD and USDA housing projects, reforming the HOME Investment Partnerships program to ease labor cost burdens and provide flexibility for homeownership, and removing the outdated permanent chassis requirement for manufactured homes to reduce costs and enable new designs. The bill also includes reforms to strengthen community banks, which are crucial for residential construction loans, by easing regulatory burdens and encouraging new bank formation.
The case against
No opposition was aired in the Record.
Disposition
Passed · recorded vote
The bill, as amended, was passed.
390-9
Who is affected
- American families and homebuyers: Aims to increase housing supply and lower costs, making homeownership more attainable, especially for first-time buyers and middle-income households.
- Housing developers and builders: Benefits from streamlined environmental reviews, reduced regulatory burdens, and expedited permitting processes, potentially leading to faster and cheaper construction.
- Rural communities: Receives specific attention for housing needs, including reforms to rural housing programs and joint environmental review processes for HUD/USDA projects.
- Manufactured housing industry and buyers: Benefits from the removal of the permanent chassis requirement, potentially leading to more diverse and affordable manufactured home designs and increased supply.
- Community banks and credit unions: Receives regulatory relief, expanded access to stable deposits, and encouragement for new bank formation, which supports local lending for housing construction and development.
- Tenants in federally assisted housing: Benefits from enhanced oversight of housing providers, a new eviction helpline, and a temperature sensor pilot program to ensure compliance with temperature requirements.
Pressure Regulatory Organizations To End Chinese Threats to Taiwan Act
H.R. 1531Question before the chamber
The question was on the motion to suspend the rules and pass the bill (H.R. 1531) to direct certain financial regulators to exclude representatives of the People's Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes, as amended.
The case for
Proponents argued that the bill sends a clear message to China that aggression toward Taiwan will not be tolerated and will incur significant financial and diplomatic consequences. They highlighted China's increasing military drills, economic coercion, and political pressure against Taiwan. The bill is intended as a proactive deterrence measure, similar to actions taken in response to Russia's invasion of Ukraine, ensuring that if China disrupts the global order, it cannot continue to participate in international organizations that preserve that order.
The case against
No opposition was aired in the Record.
Disposition
Passed · recorded vote
The bill, as amended, was passed.
395-2
Who is affected
- People's Republic of China: Faces potential exclusion from international financial organizations (G20, BIS, FSB, BCBS, IAIS, IOSCO) if it threatens Taiwan, leading to diplomatic and economic isolation.
- Taiwan: Receives a strong signal of U.S. support and a clear deterrence message to China against military force or coercion.
- International financial organizations: May see changes in their membership and operational dynamics if China's representatives are excluded.
Financial Stability Oversight Council Improvement Act of 2025
H.R. 3682Question before the chamber
The question was on the motion to suspend the rules and pass the bill (H.R. 3682) to amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes, as amended.
The case for
Proponents argued that the bill improves the Financial Stability Oversight Council's (FSOC) process for designating nonbank financial companies as systemically important financial institutions (SIFIs). They noted that previous designation processes were flawed, lacking consultation with companies and their primary regulators, and failing to evaluate whether designation would effectively mitigate risks. The bill ensures FSOC explores alternative actions and consults with firms and regulators to address risks through activity-based mitigation before resorting to entity-wide SIFI designation, creating a more predictable regulatory environment while preserving FSOC's emergency authority.
The case against
No opposition was aired in the Record.
Disposition
Passed · voice vote
The bill, as amended, was passed.
Who is affected
- Nonbank financial companies: Benefits from a more transparent and predictable process for systemic risk assessment, potentially avoiding unnecessary SIFI designations and associated regulatory burdens.
- Financial Stability Oversight Council (FSOC): Its designation authority is refined to prioritize activity-based mitigation and consultation, potentially leading to more effective and targeted risk management.
- U.S. financial system: Aims to enhance stability by ensuring systemic risks from nonbanks are addressed efficiently and appropriately, without hindering innovation or competitiveness.
Bringing the Discount Window into the 21st Century Act
H.R. 3390Question before the chamber
The question was on the motion to suspend the rules and pass the bill (H.R. 3390) to amend the Federal Reserve Act to require the Board of Governors of the Federal Reserve System to carry out a review of discount window operations and to implement improvements to such operations, and for other purposes, as amended.
The case for
Proponents argued that the Federal Reserve's discount window is a critical tool for providing emergency liquidity to banks but has been underused due to operational difficulties and stigma, as evidenced by the 2023 bank failures. The bill requires the Fed to review its discount window operations, including technology, operating hours, and communication, and to develop a remediation plan. This will ensure the discount window can effectively stabilize the financial system, especially given the speed of modern bank runs driven by mobile banking and instant communications.
The case against
No opposition was aired in the Record.
Disposition
Passed · voice vote
The bill, as amended, was passed.
Who is affected
- Financial institutions (banks, credit unions): Benefits from a more accessible and effective discount window, providing crucial emergency liquidity and reducing the risk of panic-induced bank runs.
- Federal Reserve System: Required to conduct a comprehensive review and implement improvements to a key tool for monetary policy and financial stability.
- U.S. financial system: Aims to strengthen resilience and stability by ensuring the discount window can respond effectively to rapid liquidity shortfalls in the modern banking environment.
Bringing Real Accountability Via Enforcement in Burma Act
H.R. 3190Question before the chamber
The question was on the motion to suspend the rules and pass the bill (H.R. 3190) to amend the Burma Unified through Rigorous Military Accountability Act of 2022 to extend the sunset, to require a determination with respect to the imposition of sanctions on certain persons of Burma, and for other purposes, as amended.
The case for
Proponents argued that the bill addresses the ongoing humanitarian crisis in Burma, caused by the military junta's violence and human rights abuses. The bill targets the junta's revenue sources by requiring annual determinations for sanctions on the state-owned Myanma Oil and Gas Enterprise (MOGE), Myanma Economic Bank (MEB), and foreign entities in Burma's jet fuel sector. Depleting the junta's ability to control and profit from jet fuel imports is crucial to inhibiting its unlawful airstrikes against civilians. The bill also seeks to limit Burma's influence at the International Monetary Fund while under military rule.
The case against
No opposition was aired in the Record.
Disposition
Passed · voice vote
The bill, as amended, was passed.
Who is affected
- Burmese military junta: Faces strengthened U.S. sanctions targeting its primary revenue sources and access to jet fuel, aiming to cripple its ability to fund violence and war crimes.
- People of Burma: The bill aims to support democratic movements and protect vulnerable populations by disrupting the military's capacity for violence, addressing the humanitarian crisis.
- International Monetary Fund (IMF): The U.S. Executive Director is instructed to limit any increase in Burma's shareholding while under military rule, affecting its international financial standing.
Bipartisan Housing Reform Package Passed
highThe House passed H.R. 6644, the Housing for the 21st Century Act, by a vote of 390-9. This comprehensive bill aims to increase housing supply, lower costs, and modernize Federal housing and banking programs through various reforms, including streamlining environmental reviews, easing labor cost burdens, and providing greater flexibility for local communities to use housing funds.
Financial Stability Oversight Council Procedures Enhanced
mediumH.R. 3682, the Financial Stability Oversight Council Improvement Act of 2025, passed by voice vote. This bill requires the Financial Stability Oversight Council (FSOC) to consider alternative approaches and consult with nonbank financial companies and their primary regulators before designating them as systemically important financial institutions (SIFIs), aiming for a more predictable regulatory environment.
Federal Reserve's Discount Window Operations to be Reviewed and Improved
mediumThe House passed H.R. 3390, the Bringing the Discount Window into the 21st Century Act, by voice vote. This legislation mandates the Federal Reserve to conduct a comprehensive review of its discount window operations, identify deficiencies, and develop a remediation plan to enhance its effectiveness in providing liquidity to financial institutions, particularly in times of stress.
Deterrence Measures Against Chinese Threats to Taiwan Advanced
highH.R. 1531, the PROTECT Taiwan Act, passed by a vote of 395-2. This bill establishes a U.S. policy to seek the exclusion of Chinese representatives from key international banking organizations if the President notifies Congress of a threat to Taiwan's security or economic system from actions by the People's Republic of China.
Black Military Service and History Highlighted During Special Order
mediumDuring a Special Order hour, Congressman Clyburn and Congresswoman Beatty paid homage to the contributions and sacrifices of Black men and women in the Armed Forces throughout American history, from Crispus Attucks to contemporary figures. They also criticized recent actions by the Trump administration, including the alleged removal of educational materials about Black servicemembers from Arlington National Cemetery's website and the firing of General Charles 'CQ' Brown.