The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that the Senate passed the bipartisan 21st Century ROAD to Housing Act by a vote of 85-5. The committee framed the bill as a broad housing affordability package focused on expanding supply, cutting red tape, protecting taxpayers and giving local communities stronger incentives to build more homes, moving Congress one step closer to sending the measure to President Trump. According to the committee, the legislation rests on four pillars: cutting red tape, unlocking housing supply, lowering costs for families and adding no new federal spending. The bill would streamline environmental reviews and construction processes across programs, modernize manufactured housing rules, unlock private investment, update multifamily financing tools and limit certain large institutional investors from crowding out families in residential markets. In floor remarks highlighted by the committee, Chairman Tim Scott also pointed to provisions that reward jurisdictions that build more housing and measures intended to help banks, especially community banks, play a larger role in mortgage and housing finance.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-06-22
U.S. Senate Committee on Banking, Housing and Urban Affairs highlights Senate approval of 21st Century ROAD to Housing Act by 85-5
The U.S. Senate Committee on Banking, Housing and Urban Affairs said the Senate passed the bipartisan 21st Century ROAD to Housing Act by 85-5. The bill is aimed at housing affordability by cutting red tape, expanding supply, lowering family costs and avoiding new federal spending. It also includes measures affecting manufactured housing, multifamily finance, private investment and large institutional investors in residential markets.