Senate Approves Bipartisan Housing Bill to Boost Affordable Housing Supply

The Senate Committee on Banking, Housing, and Urban Affairs has unanimously voted to advance the Renewing Opportunity in the American Dream to Housing Act of 2025, a bipartisan bill aiming to increase the supply of affordable housing. The bill, sponsored by Sen. Tim Scott and Sen. Elizabeth Warren, addresses various aspects of the housing market, including affordability, homeownership, and oversight of federal regulations and housing programs. While it is not a complete solution, industry groups and local officials have expressed support for the package, which could potentially ease housing prices.

The Senate Committee on Banking, Housing, and Urban Affairs has unanimously voted to advance the Renewing Opportunity in the American Dream to Housing Act of 2025, a bipartisan bill aiming to increase the supply of affordable housing. Sponsored by Sen. Tim Scott (R-SC) and Sen. Elizabeth Warren (D-MA), the bill addresses various aspects of the housing market, including affordability, homeownership, and oversight of federal regulations and housing programs [2].

The bill, known as the ROAD to Housing Act, seeks to remove regulatory barriers to housing development, increase and preserve existing housing, and promote innovative construction methods such as modular and manufactured housing. It also aims to address neighborhood blight, support communities recovering from natural disasters, expand access to homeownership, improve housing affordability, and promote housing opportunities for veterans. Additionally, the act aims to reduce homelessness, address appraisal shortages, ensure efficient use of taxpayer dollars, promote evidence-based policy solutions, strengthen oversight of housing regulators, streamline program coordination, and ensure performance, transparency, and accountability across housing programs [2].

Sen. Scott, chair of the committee, emphasized the bipartisan nature of the bill, stating that housing is an issue that can bring the nation together. He noted that the bill is a step in the right direction and that the committee is committed to working together to solve the housing crisis [2].

Industry groups have expressed support for the package. The Mortgage Bankers Association (MBA) applauded the Senate Banking Committee’s favorable reporting of the bill, stating that it will help make housing more affordable and available to households in both urban and rural communities across America [1].

While the ROAD to Housing Act is not a complete solution to the nation's housing shortage, it represents a significant step forward. The bill's provisions aim to boost housing supply, reduce homelessness, and expand homeownership for families, potentially easing housing prices in the long term [1].

References:
[1] https://www.politico.com/live-updates/2025/07/29/congress/senate-banking-advances-first-large-bipartisan-housing-package-in-a-decade-00481645
[2] https://financialregnews.com/sens-scott-warren-introduce-bill-to-boost-u-s-housing-supply/