Key facts
- The 21st Century ROAD to Housing Act became law without President Donald Trump's signature.
- Trump refused to sign the bill in protest over the Senate's failure to pass the SAVE America Act.
- The housing bill includes a ban on U.S. central bank digital currency issuance until the end of 2030.
- The legislation aims to increase housing supply and reduce costs by limiting institutional investors and cutting regulations.
- The bill passed both the House and Senate with broad bipartisan support.
The 21st Century ROAD to Housing Act has become law without President Donald Trump's signature, following his decision not to sign or veto the legislation before the midnight deadline. Trump stated his refusal to sign was in protest of the Senate's failure to pass the SAVE America Act, which he prioritized over the housing bill.
The housing legislation, which aims to increase housing supply and reduce costs by limiting institutional investors and cutting regulations, passed both the House and Senate with significant bipartisan support. Key provisions include a ban on U.S. central bank digital currency issuance until the end of 2030, updates to USDA rural housing programs, and frameworks for states and municipalities to streamline zoning.
The bill also includes $200 million in grant funding for municipalities that reduce red tape and burdensome zoning, and removes the permanent chassis requirement for manufactured homes. Provisions that would have impacted build-to-rent developers were omitted from the final version. For lenders, the act introduces an FHA loan pilot program for small-dollar mortgages and mandates a CFPB study on loan originator compensation rules.
Industry groups, including the National Association of Home Builders and the Mortgage Bankers Association, strongly advocated for the bill's passage. Leaders from the Bipartisan Policy Center, American Property Owners Alliance, AARP, and the Community Home Lenders of America praised the bill's enactment as a significant step towards addressing housing affordability and supply issues, while also calling for further action.