House Debates and Postpones Vote on 21st Century ROAD to Housing Act, Addressing Institutional Home Buyers and Central Bank Digital Currency
The House of Representatives convened for a session primarily focused on legislative action, considering and passing several bills under suspension of the rules, and debating a major housing reform package. The most significant action was the debate on H. Res. 1299, providing for the concurrence by the House in the Senate amendment to H.R. 6644, the "21st Century ROAD to Housing Act," with a House amendment. This comprehensive housing bill aims to address housing affordability and supply, streamline regulations, and includes provisions related to institutional investors in single-family homes and central bank digital currency. Several other bills addressing Capitol Police retirement age, foster youth support, taxpayer due process, land management, veterans' care, and banking regulations were also considered.
This chamber-day is significant due to the extensive legislative agenda, particularly the debate and pending vote on the "21st Century ROAD to Housing Act." This bill represents a major bipartisan effort to modernize federal housing programs, reduce regulatory burdens, and address critical issues like housing affordability, homelessness, and the role of institutional investors in the housing market. The inclusion of provisions on central bank digital currency and the detailed discussion around the institutional investor ban highlight the broad scope and potential impact of this legislation on economic policy, financial markets, and individual homeownership.
21st Century ROAD to Housing Act
H. Res. 1299Question before the chamber
Concurrence by the House in the Senate amendment to H.R. 6644, with a House amendment.
The case for
Proponents argued that the bill is the most comprehensive housing reform bill in a generation, representing a significant bipartisan and bicameral effort to address the affordable housing and homelessness crises. They highlighted that the House amendment improves upon the Senate's version by incorporating numerous House-passed, Democratic-led housing and community banking provisions. Specific benefits mentioned include creating a pilot program for small-dollar mortgages, allowing housing cooperatives to participate in federal programs, creating local databases for unused government land, increasing family-sized affordable housing units, and implementing community bank and credit union reforms. The bill also includes provisions to limit institutional investors from competing with individual homebuyers, a priority of President Trump, and a temporary ban on central bank digital currencies. Proponents emphasized that the bill cuts unnecessary barriers to new home construction, modernizes HUD programs, and allows community banks to deploy funding more freely for housing development, ultimately expanding housing access and affordability.
The case against
Ms. Bonamici raised a concern that the House amendment removed a bipartisan provision from the original legislation that would revitalize manufactured housing communities, arguing that rural communities and people living in manufactured homes are being left behind. She noted that both the President and Senate supported keeping the PRICE program in the bill. No other direct opposition to the overall House amendment was aired, though Ranking Member Waters did express disappointment that the Senate chose not to conference, and clarified that the House's revisions to the institutional investor ban were necessary to prevent unintended negative consequences of the Senate's original language.
Disposition
Motion to suspend the rules and agree to the resolution · recorded vote
Vote postponed
Who is affected
- Homebuyers: Increased access to small-dollar mortgages, reduced competition from large institutional investors, and streamlined construction processes aim to make homeownership more attainable.
- Renters: Provisions to increase housing supply and affordability, and a renter outreach resource to address disputes with large institutional investors, are intended to improve living conditions and tenant protections.
- Large Institutional Investors: Prohibited from purchasing single-family homes, with specific exceptions, to reduce their impact on the housing market for individual buyers.
- Community Banks and Credit Unions: Benefiting from modernized regulations on reciprocal and custodial deposits, and streamlined processes for new bank formation, enabling them to better serve local communities and finance housing development.
- Federal Housing Administration (FHA) and HUD Programs: Modernized programs, reduced regulatory burdens, and streamlined environmental reviews aim to increase efficiency and effectiveness in delivering housing assistance.
- Low-income Families and Homeless Individuals: Reforms to the HOME program, incentives for local solutions to homelessness, and increased affordable housing options are designed to provide greater support.
- Federal Reserve System: Prohibited from issuing a central bank digital currency without explicit congressional authorization, impacting potential future monetary policy tools.
- Housing Developers and Construction Industry: Streamlined environmental reviews, updated zoning guidance, and improved financing options are intended to reduce costs and accelerate housing construction.
House Debates Major Housing Reform Package with Bipartisan Support
highThe House debated H. Res. 1299, which proposes a House amendment to the Senate-passed H.R. 6644, the "21st Century ROAD to Housing Act." Proponents, including Chairman Hill and Ranking Member Waters, emphasized the bill's bipartisan nature and its comprehensive approach to addressing housing affordability, homelessness, and regulatory burdens. The discussion highlighted the collaborative effort to reconcile differences between House and Senate versions, particularly regarding a ban on large institutional investors in single-family homes and provisions on central bank digital currency.
Provisions to Limit Institutional Investors in Single-Family Homes Included in Housing Bill
highA key component of the "21st Century ROAD to Housing Act" is a provision, requested by President Trump, to limit large institutional investors from purchasing single-family homes. Ranking Member Waters noted that the House amendment revised the Senate's original language to avoid unintended consequences like evictions or reduced housing supply, while still aiming to level the playing field for individual homebuyers. Chairman Hill affirmed the commitment to ensuring beneficial housing features like military, student, and disability housing, and nonprofit efforts are not inadvertently impacted.
Central Bank Digital Currency Prohibition Included in Housing Legislation
highThe House amendment to the "21st Century ROAD to Housing Act" includes a temporary and partial ban on central bank digital currencies (CBDC). This provision reflects a stance against the issuance of a CBDC by the Federal Reserve without explicit congressional authorization, while still allowing for studies on other forms of digital currency.
Multiple Bills Passed to Support Veterans' Healthcare and Employment
mediumThe House passed several bills aimed at improving services for veterans. These included the "Veterans Community Care Scheduling Improvement Act" (H.R. 3482) to streamline healthcare appointments, the "Veterans' Transition to Trucking Act of 2025" (H.R. 2954) to facilitate employment in the trucking industry, and the "Fisher House Availability Act of 2026" (H.R. 3726) to expand lodging options for military and veteran families.
Community Banking Reforms Advanced to Boost Housing Development
mediumThe House considered and postponed votes on three bills aimed at strengthening community banks' role in housing: the "Keeping Deposits Local Act" (H.R. 3234), the "American Access to Banking Act" (H.R. 4544), and the "Community Bank Deposit Access Act of 2025" (H.R. 5317). These bills seek to ease regulatory burdens, streamline new bank formation, and provide greater flexibility for community banks to attract and deploy funds for local lending and housing development.