President Trump has called on the House of Representatives to pass the 21st Century ROAD to Housing Act that has already cleared the Senate with bipartisan support.
In a Truth Social post, Trump cited his recent State of the Union address and recalled his mentioning of Houston-based Rachel Wiggins, who lost 20 bids on homes to corporate entities.
“Stories like this are why I signed an Executive Order to ban large Wall Street Investment Firms from buying up single-family homes. Also, in my speech, I called for Congress to save the American Dream of Homeownership, and ban these purchases, PERMANENTLY!” Trump wrote. “Senators Bernie Moreno and Tim Scott have worked to ensure my call becomes a reality, and have a Bill which has passed the Senate with nearly 90 votes. I am asking Congress to pass that Bill, the 21st Century ROAD to Housing Act, which would ensure that homes are for people, not Corporations.”
However, Punchbowl News is reporting the bill’s future is in limbo as negotiations between House Financial Services Committee Chair French Hill (R-AR) and Rep. Maxine Waters (D-CA), the committee’s Ranking Member, have stalemated over several provisions in the Senate bill, including the requirement that requires Build-to-Rent firms sell those properties seven years after constructing them. There is no projected timeline on when a possible compromise can be reached.
0 Comments