The U.S. Senate Committee on Banking, Housing and Urban Affairs released remarks from Chairman Tim Scott outlining a goal to unleash up to USD 1 trillion of investment into underserved communities over the next 10 years, including by seeking greater regulatory flexibility to expand access to capital for small businesses. Scott framed the agenda around affordable housing, small business growth, financial inclusion, Opportunity Zones, tax policy and digital assets. Legislative priorities cited included the ROAD to Housing Act, which would adjust caps on private investment in public housing, open the door to small-dollar mortgages and support manufactured housing supply, and the Empowering Main Street in America Act, aimed at directing capital to historically overlooked communities. He also pointed to Opportunity Zones as having driven USD 85 billion of investment and said he will push to broaden and extend the programme as the Tax Cuts and Jobs Act approaches expiry in 2025, warning of a potential USD 4.1 trillion tax increase; additional priorities included legislation on stablecoins and crypto market structure and the Education Choice for Children Act, which would provide up to USD 10 billion in federal tax credits for K-12 scholarship contributions benefiting nearly 2 million students.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-02-19
U.S. Senate Committee on Banking, Housing and Urban Affairs chair Tim Scott sets goal to unlock up to USD 1 trillion for underserved communities
The U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Chairman Tim Scott, aims to channel up to USD 1 trillion into underserved communities over the next decade by enhancing regulatory flexibility for small business capital access. Key legislative priorities include the ROAD to Housing Act, Empowering Main Street in America Act, extending Opportunity Zones, and initiatives on stablecoins, crypto market structure, and education tax credits.