Full Breakdown
Senate Passes 21st Century ROAD to Housing Act, Targeting Home Prices and Wall Street Investors
6/23/2026, 5:10:37 AM
Senate Passage Signals Bipartisan Push on Housing
On Monday, the Senate approved the 21st Century ROAD to Housing Act by a vote of 85-5. The bill seeks to lower housing costs by easing construction approvals, expanding grant programs for new homes, and barring large institutional investors from buying single-family houses. It now moves to the House.
Bipartisan Deal and Key Lawmakers
The final package reflects a “four-corners” compromise negotiated by Sens. Tim Scott (R-SC) and Elizabeth Warren (D-MA) with Reps. French Hill (R-AR) and Maxine Waters (D-CA). Senators John Kennedy (R-LA) and the White House also backed the measure.
Core Provisions, Vote and Poll Data
The act would prohibit large institutional investors from buying single-family homes, fund fast-track local approvals, and expand grant programs for new construction. The Senate vote was 85-5. A mid-June AP poll showed Trump’s overall approval at 37% and only 33% approval of his handling of the economy; a June NBC News poll found 80% of voters say the American Dream is harder to achieve than a generation ago.
Official Statements
Rep. French Hill called the legislation a meaningful step toward expanding housing supply and affordability. Sen. Elizabeth Warren said the investor limits aim to stop private-equity firms from raising home prices. The White House expressed pride in partnering with Congress to advance the President’s housing-affordability agenda, while President Trump reiterated his call to ban large Wall Street firms from buying thousands of single-family homes.
Criticism and Opposition
Some Republicans complained that the bill’s visibility was eclipsed by Trump’s other policy moves, such as the Iran deal and the FISA Section 702 renewal. The House objected to a provision that would have forced investors with 350 homes to sell after seven years, leading to its removal. Sen. John Kennedy noted the president’s limited hands-on involvement, suggesting executive disengagement slowed progress.
Verbatim Quotes
- “I don’t think it would be a news flash to observe that the president hasn’t really been very hands-on in getting this bill across the finish line,” — Sen. John Kennedy, R-LA
- “meaningful step toward increasing housing supply, improving affordability, and helping more Americans achieve homeownership.” — Rep. French Hill, R-AR
- “stopping private equity from buying up homes” — Sen. Elizabeth Warren, D-MA
- “proud to have worked alongside our partners in Congress to move this legislation forward that advances the President’s housing affordability agenda.” — Davis Ingle, White House spokesman
Timeline and Next Steps
March 2024: Senate passed an earlier version. May 2024: House approved a different version. Monday (June 2024): Senate voted 85-5 on the final act. The House is expected to vote within days; if passed, the bill will go to President Trump for signature, potentially delivering a rare bipartisan win on housing affordability.
