Senate Passes Bill Aimed at Making Housing Affordable

The Senate overwhelmingly passed a bipartisan bill on March 12 that aims to lower home prices and make housing more affordable for Americans.

The upper chamber voted 89–10 to advance the 21st Century ROAD to Housing Act. The bill must now be reviewed and voted upon by the House of Representatives.

Lawmakers opposed to the bill included Sens. Ted Cruz (R-Texas), Mike Lee (R-Utah), Rand Paul (R-Ky.), Brian Schatz (D-Hawaii), and Rick Scott (R-Fla.).

The bill package was led by Sens. Tim Scott (R-S.C.) and Elizabeth Warren (D-Mass.), and combines the Senate’s ROAD to Housing Act of 2025 with provisions from the House of Representatives’ Housing for the 21st Century Act, according to a March 10 statement from the Senate Committee on Banking, Housing, and Urban Affairs.

The combined 21st Century ROAD to Housing Act is expected to “help boost housing supply and bring down costs,” the committee said. “The bill also takes a first step towards reining in corporate landlords and ensuring families, not corporations, can buy homes across the country—a goal that is overwhelmingly popular with the American people across party lines,” it stated.

According to a Senate Committee document, the 21st Century ROAD to Housing Act contains several provisions to improve housing conditions in the United States.

The act’s provisions aim to cut red tape in environmental reviews and to authorize a pilot program offering competitive grants to assist state, local, and tribal governments with regional housing planning.

Other provisions include one that requires the Federal Housing Administration to increase loan limits for multifamily properties, while banning large institutional investors from buying certain single-family homes, a measure aimed at promoting home ownership opportunities for American families.

It permanently excludes disability compensation received by veterans when calculating their annual income under the Department of Housing and Urban Development’s (HUD) Veterans Affairs Supportive Housing program, a move aimed at helping more homeless veterans access housing.

The “Revitalizing Empty Structures into Desirable Environments” provision authorizes a pilot program to convert vacant and abandoned buildings into housing units, and the “Rental Assistance Demonstration” provision codifies tenant protections in rental properties.

The act seeks to raise the Public Welfare Investment cap on banks from 15 percent to 20 percent, which will “enhance banks’ capacity to make private investments in affordable housing,” according to the Senate document.

Boost to Housing Affordability

In a March 6 letter to Senate leaders, the National Association of Affordable Housing Lenders (NAAHL) called on the Senate to “quickly advance” the legislation.

“Increasing the Public Welfare Investment … cap for banks from 15 percent to 20 percent will allow increased private investment in affordable housing and unlock the full potential of the recent Low-Income Housing Tax Credit … expansion,” NAAHL CEO Sarah Brundage wrote in the letter.

Some of the other bill provisions will allow “private capital to move more quickly and efficiently to build and preserve housing across the country,” she said.

The National Association of Realtors (NAR) said in a March 6 statement that the 21st Century ROAD to Housing Act provides a “comprehensive approach” required to improve housing affordability and expand homeownership opportunities for Americans.

“America faces a shortage of nearly 4.7 million homes, and affordability challenges continue to push homeownership further out of reach,” NAR Executive Vice President Shannon McGahn said. “The median age of a first-time buyer has climbed … a clear sign that the system is not working for too many people across this country.”

The bill advancement comes as Trump has initiated measures to improve housing affordability.

In January, he signed an executive order restricting Wall Street companies from buying single-family homes nationwide. He also ordered the purchase of $200 billion in mortgage bonds that same month.

The Trump administration is also considering issuing a national housing emergency declaration to speed up real estate development, opening federal lands for construction, and introducing 50-year mortgage terms to lower monthly payments.

Andrew Moran contributed to this report.

Correction: A previous version of this article misstated the name and current status of the 21st Century ROAD to Housing Act. The Epoch Times regrets the errors.