In a CNBC interview highlighted by the U.S. Senate Committee on Banking, Housing and Urban Affairs, Chairman Tim Scott said the Senate had again passed bipartisan housing affordability legislation by an 87 to 9 vote and that agreement with the House on the same principles could clear a path for President Trump to sign the bill. He presented the measure as focused on lowering housing costs, helping first-time homebuyers and making 2026 a year of affordability. Scott said community banks are a key channel for first-time homebuyer financing and that making it easier for them to participate in mortgage lending is an important part of the bill. He also said lawmakers were still assessing how institutional investors affect the housing market, while seeking to preserve rent-to-own models and avoid constraining long-term housing production. On monetary policy, Scott said the Federal Reserve's decision to keep interest rates unchanged, and to do so unanimously, demonstrated Fed independence. He called for the central bank to follow the data, keep its focus on the market and the economy, and return attention to price stability.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-06-18
U.S. Senate Committee on Banking, Housing and Urban Affairs chairman outlines fast path for housing affordability bill after 87 to 9 Senate vote
Chairman Tim Scott said in a CNBC interview that the Senate passed bipartisan housing affordability legislation 87 to 9 and that House alignment on the same principles could speed the bill to President Trump. He said the measure is aimed at lowering costs, helping first-time homebuyers and making it easier for community banks to provide mortgages. Scott also said the Federal Reserve's decision to hold rates steady showed its independence and a focus on price stability.