Leaders of the U.S. Financial Services Committee published a statement backing the bipartisan Housing for the 21st Century Act, framing it as a supply-side response to a national housing shortfall estimated at up to 5.5 million units. The proposal is positioned to increase housing production by reducing permitting and process delays, modernising Department of Housing and Urban Development (HUD) programmes, and addressing regulatory barriers affecting banks that finance construction. Key elements highlighted include faster approvals through the use of pre-approved home designs, simplification of federal and local housing processes, and updates to standards and oversight for manufactured and factory-built homes with HUD “clearly in charge”. The statement also points to changes to the HOME Program to give states and cities more flexibility and more time to deliver projects, alongside provisions intended to cut red tape, tailor compliance requirements and improve access to stable funding for community and regional banks that support construction lending. Committee leaders said they expect the bill to come to the House floor for a vote in the week of 9 February 2026.
U.S. Financial Services Committee 2026-02-06
U.S. Financial Services Committee leaders push House vote on the Housing for the 21st Century Act to streamline homebuilding and ease construction finance
The U.S. Financial Services Committee leaders endorsed the bipartisan Housing for the 21st Century Act, aimed at addressing a national housing shortfall by expediting permitting, modernizing HUD programs, and reducing regulatory barriers for banks financing construction. The bill, which includes measures for faster approvals and updates to housing standards, is expected to be voted on in the House the week of 9 February 2026.