The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that the Senate has passed the 21st Century ROAD to Housing Act, a housing affordability package sponsored by Committee Chairman Tim Scott and developed with Ranking Member Elizabeth Warren. The Committee framed the legislation as a supply-focused effort to lower housing costs by expanding housing supply and reducing regulatory barriers. The bill is structured around four pillars: cutting red tape, unlocking housing supply, lowering costs for families, and including no new mandatory federal spending. It would streamline environmental reviews, modernize manufactured housing rules, unlock private investment, update multifamily financing tools, streamline construction activities across programs, and limit certain large institutional investors from crowding out families in residential markets.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-03-12
U.S. Senate Committee on Banking, Housing and Urban Affairs reports Senate passage of Chairman Scott’s 21st Century ROAD to Housing Act by 89-10 vote
The U.S. Senate passed the 21st Century ROAD to Housing Act, sponsored by Tim Scott and developed with Elizabeth Warren. The legislation aims to lower housing costs by expanding supply and reducing regulatory barriers, focusing on cutting red tape, unlocking housing supply, and lowering costs without new mandatory federal spending. Key measures include streamlining environmental reviews, modernizing manufactured housing rules, and limiting large institutional investors in residential markets.