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Congress Passes Bipartisan Housing Bill; Trump Delays Signing Over Voter ID Legislation

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The 21st Century Road to Housing Act: A Bipartisan Bill Held Hostage

"Homes Are For People, Not Corporations" — the central tenet of a major bipartisan housing bill now stalled by a presidential veto threat over a separate voter ID law.

The 21st Century Road to Housing Act, a sweeping bipartisan bill designed to increase the U.S. housing supply and regulate large-scale investors, has passed both chambers of Congress with overwhelming support. However, President Donald Trump has refused to sign it until Congress passes the Safeguard American Voter Eligibility (SAVE) Act, a voter identification bill that remains stalled in the Senate.

Legislative Path and Timeline

The bill passed the Senate on Monday, February 24, 2025, with strong bipartisan support. Multiple sources report varying vote counts—85-5, 89-10, or a similarly lopsided margin. The House of Representatives passed the bill shortly after, with reported votes of 358-32 or 396-13.

Following passage, the bill was transmitted to the White House after a meeting between President Trump and House Speaker Mike Johnson on Thursday.

Under standard legislative procedures, if the President does not sign or veto the bill, it will become law after 10 calendar days (excluding Sundays) while Congress is in session. If vetoed, Congress would require a two-thirds majority in each chamber to override.

Key Provisions of the Bill

The legislation contains several provisions aimed at addressing housing affordability and supply.

Regulation of Corporate Investors

  • The bill prohibits entities that already own more than 350 single-family homes from purchasing additional single-family homes.
  • This provision, titled "Homes Are For People, Not Corporations," was a point of negotiation between the House and Senate.
  • The Senate version included a requirement that large landlords sell newly built "build-to-rent" homes within seven years. This requirement was removed in the final version following opposition from 79 industry groups who argued it would eliminate build-to-rent production.
  • The House version allows investors to build and hold rental homes without a sale requirement.
  • Exceptions in the bill permit investors to acquire homes needing substantial renovation and to own new build-to-rent properties.

Manufactured and Factory-Built Homes

  • The bill removes the requirement for a permanent chassis for manufactured homes.
  • This change is estimated to potentially reduce construction costs by $5,000 to $10,000 per unit.
  • The bill expands federal financing options for manufactured housing.

Streamlining Construction and Regulations

  • Builders can skip environmental reviews for projects located between two buildings that have already undergone the process.
  • A grant program will fund "pattern books" of pre-approved housing designs to reduce approval times for communities.
  • The bill establishes a framework for communities to reform outdated zoning regulations.
  • The bill authorizes a pilot program for grants and forgivable loans to repair aging homes and convert vacant office buildings into apartments.

Incentives for Local Governments

  • Federal dollars, including Community Development Block Grant funding, will be allocated to communities that build more housing.
  • Reduced incentives are provided for communities that do not increase housing production.

Bank Investment in Affordable Housing

  • The cap for Public Welfare Investment (PWI) for banks is raised from 15% to 20% of their risk-adjusted capital, enabling more investment in affordable housing construction through the low-income housing tax credit program.

Section 8 Financing

  • Limits on the number of public housing units receiving private financing through Section 8 are raised to allow for rehabilitation.

Market and Economic Context

The legislation was introduced as home prices have risen over 50% and rents over 30% since the pandemic. Realtor.com estimates a shortage of approximately 4 million housing units. The typical home price is around $400,000. Rising mortgage rates (approximately 6.5%) and inflation outstripping wage growth (22% since 2019) have made homeownership challenging.

Corporate landlords currently make up about 3% of the single-family rental market nationally.

Research on the impact of large investors on home prices shows varied results; some studies suggest a possible increase in selling prices, while others indicate a potential decrease in rental costs due to increased supply.

Statements from Lawmakers and Officials

Support for the Bill

Senator Tim Scott (R-SC), Senate Banking Committee Chairman, called the measure the "result of years of work to lower costs, expand housing supply, cut red tape, protect taxpayers, and help more Americans achieve the dream of homeownership."

Senator Elizabeth Warren (D-MA) said the bill "acknowledges that the federal government has a role to play in lowering housing prices" and that "private equity will be blocked from buying up single-family homes."

Representative Maxine Waters (D-CA) called it a "huge step toward finally addressing the affordable housing and homelessness crises in this country."

Senate Majority Leader John Thune (R-SD) said, "There's a lot of good in there... it's about increasing the supply of housing in this country and making it more affordable."

Concerns and Opposition

Senator Bernie Moreno (R) criticized the House version for removing the requirement that investors sell build-to-rent homes, stating it "basically gutted President Trump's principal priority."

The Cato Institute criticized the bill as a continuation of previous federal housing policies.

Presidential Delay and the SAVE America Act

President Trump canceled a scheduled signing ceremony 90 minutes before it was to occur. He stated on social media that the event was canceled "until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency." He also called the housing bill "of minor importance" and a "Warren centric housing bill."

The SAVE America Act, passed by the House in February, would require documentary proof of citizenship for voter registration and photo ID at polling places. It is stalled in the Senate.

Four Republican senators—Mitch McConnell (KY), Susan Collins (ME), Lisa Murkowski (AK), and Thom Tillis (NC)—reportedly oppose the bill.

Republican leadership has indicated they lack the votes to pass it, partly due to Democratic opposition and reluctance to eliminate the legislative filibuster. Speaker Johnson has suggested passing the bill through budget reconciliation.

Reactions to the Delay

White House Press Secretary Karoline Leavitt called the housing bill "one of the most significant pieces of housing affordability legislation in American history."

Senator Elizabeth Warren accused Trump of "complete indifference" to Americans' cost-of-living concerns.

Senate Minority Leader Chuck Schumer (D-NY) said Trump was "making such a fool of himself" but noted there may be enough votes to override a veto.

Speaker Mike Johnson defended Trump's decision, stating the President was making a "point."

Representative Anna Paulina Luna (R-FL) led a group of House Republicans vowing to block all House legislation until the SAVE America Act passes.

Effect on Congressional Business

Representative Luna and a group of House Republicans began blocking House votes, resulting in the cancellation of scheduled votes for Friday. President Trump met with Speaker Johnson on Thursday to discuss the legislative path forward. Johnson stated that Republicans must rely on the reconciliation process to pass the SAVE Act.