06.17.26

The 21st Century ROAD to Housing Act Builds on Republicans’ Economic Agenda by Addressing the Cost and Availability of Housing

Americans Are Rightly Concerned About Housing. This Week, the Senate Is Expected to Pass Historic Legislation to Make it Easier to Build and Afford Homes.

FOR YEARS, AMERICANS HAVE BEEN SQUEEZED BY THE LACK OF NEW HOUSING, CAUSING COSTS TO SKYROCKET

  • “More than four out of five Americans (82%) agree that housing affordability is a problem in the city or county where they live, according to a survey conducted by the polling firm Morning Consult on behalf of NAHB.” (National Association of Home Builders: What Americans Say About Housing Affordability – accessed 6/17/26)
  • According to an April survey, 89% of Americans polled said they wanted Congress to pass bipartisan legislation addressing housing affordability. (Bipartisan Policy Center: U.S. Opinions on Housing Legislation: A BPC/Advocus Partners Poll – 5/8/26)
  • “Housing stands out as the problem that’s most on the minds of young people. In an open-ended poll question, around half of them said they worried most about affording housing, more than every other item combined, including retirement, health care, education, bills, cars and food. Only 36 percent of young people said the home they would like was ‘within reach’ (or they already owned it), compared with 76 percent of those over 65.” (The New York Times: What Americans Really Mean by ‘Affordability’ – 1/29/26)
  • “Across the country, as housing and other costs continue to outpace income increases, many middle-class home buyers… are finding they can’t easily scrape together a down payment on their own. That has prompted city, state and nonprofit programs to expand eligibility for down-payment support — with some areas offering loans to people making more than $200,000.” (The Washington Post: Housing is so expensive that people earning $200,000 qualify for help – 3/6/26)
  • “The Urban Institute found that home sales prices have risen 80 percent since 2017, while wages have grown 38 percent.” (The Washington Post: Housing is so expensive that people earning $200,000 qualify for help – 3/6/26)
  • “As of 2024, 20.7 million homeowner households (24% of the total) spent more than 30% of their income on housing expenses; 9.6 million spent more than half their income.” (USA Today: Why so many Americans can’t afford housing anymore – 6/17/26)
  • Supply has not kept up: “Only 1.1 million new households were formed in 2025 – a number roughly in line with the depths of the Great Recession over a decade ago…” (USA Today: Why so many Americans can’t afford housing anymore – 6/17/26)
  • “Home prices have surged about 50 percent since the pandemic. Today, buyers need to earn roughly $93,000 to afford a typical home with a 20 percent down payment, up from the $52,000 needed in February 2020, according to data from the real estate marketplace Zillow.” (The New York Times: It’s a Buyer’s Market, but Homeownership Eludes Many Americans – 1/23/26)
    • “Home prices hit a new all-time high in 2024, with the median at $412,500.” (USA Today: First-time buyers in the housing market are at an all-time low – 11/4/25)

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(The New York Times: It’s a Buyer’s Market, but Homeownership Eludes Many Americans – 1/23/26)

THE BIPARTISAN 21ST CENTURY ROAD TO HOUSING ACT MAKES HOMEOWNERSHIP MORE ATTAINABLE AND AFFORDABLE BY CUTTING RED TAPE AND GROWING HOUSING SUPPLY ACROSS THE COUNTRY

“2026 is the Year of Affordability, and the 21st Century ROAD to Housing Act gives Congress a chance to deliver a major win for families across the country. This bill is 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.” – Senate Banking Committee Chairman Tim Scott (R-S.C.)

“In the end, it’s about increasing the supply of housing in this country and making it more affordable, and I think that is something the American people want to see us working on. I think this bill accomplishes that.” –Senate Majority Leader John Thune (R-S.D.)

  • To tackle the rising cost of housing, the 21st Century ROAD to Housing Act gets directly at lowering costs by expanding supply of all types of housing through reducing onerous and unnecessary regulations to new home building while protecting taxpayers from increased government spending. (U.S. Senate Committee on Banking, Housing, and Urban Affairs: 21st Century ROAD to Housing Act – accessed 6/17/26)
  • The 21st Century ROAD to Housing Act is built around several key concepts:
    • Unlocking and increasing new housing supply.
    • Cutting burdensome and unnecessary red tape hampering new building.
    • Lowering costs for homeowners and renters.
    • Strengthening community banking’s role in housing by modernizing banking regulations.
    • Modernizing government housing programs that expand financial opportunities.
    • Ensuring no new mandatory federal spending. (U.S. Senate Committee on Banking, Housing, and Urban Affairs: 21st Century ROAD to Housing Act – accessed 6/17/26)
  • “The legislation contains nearly four dozen provisions based on stand-alone measures, most of which have bipartisan co-sponsors. They would streamline housing regulations to bolster the construction of affordable housing, change rules to increase manufactured housing and encourage localities to ease zoning rules, among other changes.” (Roll Call: Housing deal in hand, revised bill cruising toward passage – 6/16/26)
  • “Lawmakers from both parties view the legislation, which aims to increase homeownership and boost housing supply, as an answer to cost-of-living concerns that have dominated the midterm elections season.” (Politico: Senate, House reach deal on housing bill, Senate to start votes Tuesday – 6/16/26)
  • “A bipartisan, affordability-focused policy bill is a significant achievement for Congress to pull off in an election year and as partisan fights have prevented much legislation from succeeding, especially with bipartisan support.” (The Hill: Senate votes to consider bipartisan housing bill after months of GOP infighting – 6/16/26)
  • “Both chambers overwhelmingly passed their own versions of housing legislation — the Senate 89-10 in March, and the House 396-13 in May.” (Politico: Senate, House reach deal on housing bill, Senate to start votes Tuesday – 6/16/26)
  • “This landmark legislation would expand housing opportunities for buyers and renters, strengthen homeownership, and help tackle the affordability challenges facing communities nationwide. It’s time for Congress to move this historic housing package across the finish line.” – National Association of Home Builders Chairman Bill Owens

THE FINAL PRODUCT THE SENATE IS CONSIDERING ALSO ADDRESSES A NUMBER OF PRESIDENT TRUMP’S PRIORITIES

    • “Central bank digital currencies (CBDCs) are digital forms of a country's fiat currency issued and regulated by its central bank, and are fixed in value by the government.” (Investopedia: Understanding Central Bank Digital Currencies (CBDCs): A Comprehensive Guide – 9/26/25)
    • On the fourth day of his second term, President Trump issued an executive order “taking measures to protect Americans from the risks of Central Bank Digital Currencies (CBDCs), which threaten the stability of the financial system, individual privacy, and the sovereignty of the United States…” (White House: Strengthening American Leadership in Digital Financial Technology – 1/23/25)
  • The finalized bill also “prohibits large institutional investors from purchasing certain single-family homes to promote homeownership opportunities for American families, not corporations.” (U.S. Senate Committee on Banking, Housing, and Urban Affairs: 21st Century ROAD to Housing Act – accessed 6/17/26)
    • In January, President Trump signed an executive order designed to “preserve the supply of single-family homes for American families and increase the paths to homeownership” by issuing guidance “that large institutional investors should not buy single-family homes that could otherwise be purchased by families.” (White House: Stopping Wall Street From Competing With Main Street Homebuyers – 1/20/26)