The House gave final approval to a broad bipartisan bill aimed at lowering the cost of housing, with lawmakers in both parties eager to show progress on affordability issues ahead of this year’s midterm elections. The bill, which reduces federal regulations and streamlines environmental reviews, is expected to be signed into law by President Donald Trump.

Key Provisions

The legislation expands financing options, encourages the development of innovative housing like modular homes, and requires new renter protections. It also provides funding to local governments that build more housing and offers a framework for communities to reform outdated zoning regulations.

The bill drew widespread support in the housing community, with organizations representing landlords and large property owners, as well as groups that advocate for tenants and low-income renters, all backing the measure. Lawmakers from both parties noted the unusual level of bipartisanship ahead of the vote, with Rep. Jim Himes (D-Conn.) saying, ‘In this polarized and angry Congress, we are actually getting something done.’

Housing Costs a Concern for Both Parties

Housing costs are a concern for both parties, with Republicans and Democrats embracing the bill as a way to show they are addressing the nation’s affordability crisis. The U.S. housing market has been in a slump since 2022, with sales of previously occupied homes hovering close to a 4-million annual pace, well short of the 5.2-million annual pace that’s historically been the norm.

Original reporting: KTBS 3 (Shreveport) — read the source article.