Senate Passes 21st Century ROAD to Housing Act 85-5, Addressing Housing Shortage and Restricting Institutional Investors
The Senate convened and passed the 21st Century ROAD to Housing Act (H.R. 6644) by a rollcall vote of 85-5, a significant bipartisan effort aimed at increasing housing supply and making homeownership more accessible. The bill includes provisions to streamline zoning, support modular housing, convert office buildings to residential use, and restrict institutional investors from buying single-family homes. Additionally, the Senate passed the Theodore Roosevelt Presidential Library Act (S. 675) by unanimous consent and filed cloture motions for three judicial nominations. Floor speeches also covered the Working Families Tax Cut Act, recent tornadoes in Illinois, the ongoing situation with Iran, and the broader implications of artificial intelligence.
This chamber-day is significant due to the passage of the 21st Century ROAD to Housing Act, which represents the largest housing legislation since 1990. Its provisions directly address the national housing shortage and rising costs, with a particular focus on making homeownership more attainable for working families by curbing institutional investor influence. The bipartisan support for this consequential bill underscores a rare legislative consensus on a pressing economic issue.
21st Century ROAD to Housing Act
H.R. 6644Question before the chamber
Motion to concur in the House amendment to the Senate amendment to the bill, with Thune (for Scott (SC)/Warren) Amendment No. 5823 (to the House amendment to the Senate amendment), in the nature of a substitute.
The case for
Senator Scott of South Carolina and Senator Warren argued that the bill is crucial for addressing the national housing shortage, which has made homeownership increasingly out of reach for working families. They highlighted provisions that cut red tape, unlock housing supply, and protect taxpayers. Specifically, Senator Scott emphasized that the bill makes it easier for people to access housing by including a provision that prevents corporations from dominating the housing market, aligning with President Trump's stated position. Senator Warren noted the bill's importance in streamlining zoning, supporting modular housing, converting old office buildings into residential units, and stopping private equity firms from outbidding families for homes. Both Senators stressed that the legislation represents a significant bipartisan step towards making housing more affordable across America.
The case against
No specific opposition arguments against the 21st Century ROAD to Housing Act (H.R. 6644) were aired in the Record text provided, despite five Senators voting against the measure.
Disposition
Motion to concur with an amendment was agreed to · recorded vote
The Senate concurred in the House amendment to the Senate amendment to H.R. 6644, with Thune (for Scott (SC)/Warren) Amendment No. 5823, in the nature of a substitute.
Yeas 85, Nays 5
Amendments
- To change the enactment date. (Thune) — withdrawn
Who is affected
- Working families and first-time home buyers: The bill aims to make homeownership more accessible and affordable by increasing housing supply and reducing costs, directly benefiting those struggling to enter the housing market.
- Institutional investors and private equity firms: The bill explicitly restricts these entities from buying up single-family homes, limiting their market influence and potentially reducing competition for individual buyers.
- Local communities and governments: The legislation supports streamlining zoning, manufacturing modular housing, and converting office buildings, which could lead to increased local development and housing options.
- Small businesses, farms, and ranches: While not directly part of the housing bill, the broader context of Republican legislative priorities mentioned by Senator Thune includes tax reforms that benefit these groups, enabling investment and job creation.
Theodore Roosevelt Presidential Library Act
S. 675Question before the chamber
Passage of the bill, as amended.
The case for
Senator Hoeven argued that the bill is important for preserving the legacy of President Theodore Roosevelt, a consequential figure whose time in North Dakota profoundly influenced his character and leadership. He highlighted that the library will allow current and future generations to learn from Roosevelt's life, leadership, and conservation ethic. The bill provides a framework for federal funding, contingent on significant non-federal matching funds, and authorizes the display of federally held artifacts, consistent with support for other presidential libraries.
The case against
No opposition was aired in the Record.
Disposition
The bill, as amended, was passed. · unanimous consent
The Theodore Roosevelt Presidential Library Act (S. 675) was passed by unanimous consent, with a substitute amendment.
Amendments
- In the nature of a substitute. (Mr. HOEVEN) — agreed to
Who is affected
- Theodore Roosevelt Presidential Library Foundation: Receives authorization for federal grants and access to federal artifacts to establish and operate the library.
- Residents of Medora, North Dakota, and visitors: Will benefit from the establishment of a nationally significant institution, attracting tourism and providing educational opportunities.
- Future generations of Americans: Will have access to materials and interpretive services relating to the life and legacy of President Theodore Roosevelt.
Senate Passes Major Housing Legislation
highThe Senate passed H.R. 6644, the 21st Century ROAD to Housing Act, by a rollcall vote of 85-5. This bill is described as the biggest housing legislation since 1990, aiming to increase housing supply and reduce costs for American families.
Prohibition on Institutional Investors in Housing Market
highA key provision of the 21st Century ROAD to Housing Act will, for the first time, stop private equity firms from buying up single-family homes, a practice identified as contributing to rising housing costs and making homeownership difficult for families.
Bipartisan Support for Housing Bill
mediumThe 21st Century ROAD to Housing Act garnered overwhelming bipartisan support, passing with 85 yeas and only 5 nays, demonstrating a rare consensus on a major economic and social issue.
Cloture Motions Filed for Judicial Nominations
mediumCloture motions were filed for three United States District Judge nominations: John George Edward Marck for the Southern District of Texas, Michael J. Hendershot for the Northern District of Ohio, and Arthur Roberts Jones for the Southern District of Texas, indicating upcoming votes to limit debate on these appointments.
Senate Passes Theodore Roosevelt Presidential Library Act
lowThe Senate passed S. 675, the Theodore Roosevelt Presidential Library Act, by unanimous consent. This bill authorizes federal funding and the use of artifacts for the library in Medora, North Dakota, to preserve the legacy of President Theodore Roosevelt.