Trump Refuses to Sign Housing Bill in Protest

President Donald Trump confirmed he will not sign the 21st Century ROAD to Housing Act, a bipartisan bill passed by Congress. His decision is a protest against the Senate's failure to pass the SAVE AMERICA ACT, which aims to strengthen voter identification and registration requirements. The housing bill is expected to automatically become law at midnight Eastern time if Trump does not veto it.

Trump stated on social media that he would not sign the housing bill "in PROTEST over the fact that the United States Senate is not capable of passing THE SAVE AMERICA ACT." He had previously delayed a signing ceremony for the housing bill.

The 21st Century ROAD to Housing Act includes provisions that ban institutional investors owning 350 or more single-family homes from purchasing additional properties. The legislation also aims to streamline housing development by cutting red tape, such as exempting certain small-scale developments from environmental reviews and removing the permanent chassis requirement from manufactured homes. Key mortgage and financing provisions include a Federal Housing Administration (FHA) loan pilot program for small-dollar mortgages below $100,000, a study on loan originator compensation rules, and increased FHA multifamily statutory loan limits. The bill also seeks to bolster the appraiser workforce through expanded training programs.

Housing industry stakeholders have largely backed the legislation.