Sen. Elizabeth Warren, D-Mass., is calling on President Donald Trump to sign a sweeping bipartisan housing package that has been stalled in Washington. The 21st Century ROAD to Housing Act is an expansive package that contains nearly 50 provisions designed to address the nationwide housing emergency.
Housing Emergency
Warren noted that decades of under-building have driven prices up, leaving the U.S. in need of millions of new units. The primary focus of the bill is to lower the costs of construction and make it easier to build new homes. The bill, which was co-sponsored by Sen. Tim Scott, R-S.C., also includes a secondary focus aimed at blocking corporate consolidation of the housing market.
Warren explained that the legislation is designed to keep private equity firms from buying up local neighborhoods and turning America ‘into a nation of renters.’ According to Warren, the legislation had widespread support from both sides of the aisle before it was stalled.
Critics of the legislation claim it does not allocate fresh federal funding, directly address rising costs of homeownership, or go far enough to address permitting issues. The president previously canceled a scheduled signing event, insisting lawmakers must first approve the unrelated SAVE America Act, a voting-focused measure, before he moves forward.
Original reporting: Fox News (HLL/CB) — read the source article.
