Bipartisan Housing Affordability Bill Faces Opposition in the House

The 21st Century ROAD to Housing Act, a bipartisan housing affordability package, has successfully passed the Senate with an 89-10 vote. Spearheaded by Senate Banking Committee Chair Tim Scott (R-S.C.) and ranking member Elizabeth Warren (D-Mass.), the legislation aims to incentivize new home construction, convert abandoned buildings into housing, and modernize existing homes. This bill represents the first major housing law in over three decades and has received support from the White House.

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Despite its Senate success, the bill faces significant hurdles in the House of Representatives, where conservative lawmakers are expressing strong opposition. Key concerns include the bill's provisions regarding Central Bank Digital Currency (CBDC) and perceived government overreach. Some House Republicans, including Rep. Anna Paulina Luna (R-Fla.), argue that the temporary ban on CBDCs included in the bill does not go far enough, advocating for a permanent prohibition instead. They contend that CBDCs could lead to unconstitutional financial surveillance and excessive government control over personal finances.

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House Majority Leader Steve Scalise (R-La.) has indicated that the leadership is preparing to shut down the bill, reflecting the internal divisions within the party. Some Republicans, like Rep. Richard McCormick (R-Ga.), have criticized a provision requiring large institutional investors to sell build-to-rent single-family homes within seven years, labeling it unconstitutional and an overreach of government authority. Others, such as Rep. Keith Self (R-Texas), have described parts of the bill as "socialist policies" that need to be stripped away.

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Senate Majority Leader John Thune (R-S.D.) has expressed a preference for the House to pass the housing bill and send it to President Trump, but he remains open to a conference to reconcile differences if necessary. Meanwhile, Trump has emphasized the importance of passing the SAVE America Act, a GOP-backed voting requirements bill, before considering any other legislation, including the housing bill. He has urged House Republicans to prioritize this act, stating, “The people are demanding it.”

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Critics within the House argue that the housing bill does not adequately address their concerns regarding CBDCs and government intervention in the housing market. Rep. McCormick's assertion that the bill infringes on constitutional rights highlights the broader apprehension among conservatives about government overreach in economic matters. The House Freedom Caucus has also threatened to block the housing bill if their demands for a permanent ban on CBDCs are not met.

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As the debate continues, the fate of the housing affordability bill remains uncertain. The House leadership's strategy and the potential for amendments could lead to further negotiations with the Senate. However, the ongoing push for the SAVE America Act complicates the legislative landscape, with House Republicans indicating they may block all Senate-passed legislation until their priorities are addressed.

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• “CBDC’s are bad for everyone,” — Rep. Anna Paulina Luna (R-Fla.)

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• “When is it constitutional for us as a government to tell a business when they take the risk, they go out, they build something that we’re going to take away your right to do with it, whatever you are legally able to do with it?” — Rep. Richard McCormick (R-Ga.)

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• “The housing bill will die, again, because Thune and the Senate do not want to actually embrace the talking filibuster, actually do anything to pass the SAVE America Act,” — Rep. Anna Paulina Luna (R-Fla.)

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