Senate passes housing legislative package in overwhelming bipartisan fashion

Congress is one step closer to passing its most far-reaching housing reform legislation in decades.

The Senate voted 85-5 on the final passage of the 21st Century Road to Housing Act on Monday.

With midterm elections months away, Congress is taking noteworthy and rare bipartisan action to tackle one element of affordability , a talking point in races across the country this year.

The bill comes as a recent Zillow analysis found the cost of buying a starter home is $1 million or more in a record 242 cities across the country.

What is in the bill?

The legislation aims to address the nation's housing shortage by increasing the supply of homes and overall homeownership. This is achieved through loosening regulations to encourage housing construction and limiting Wall Street investors' ability to buy homes that could go to families instead.

A 2024 study from the government-sponsored housing enterprise Freddie Mac estimated that U.S. faces a shortfall of 3.7 million units contributing to its housing crisis.

The bill also provides grants to turn vacant buildings into affordable housing.

By increasing the supply of homes for sale, the legislation is intended to lower home costs for Americans.

What's next for the bill?

With the Senate passing the bill 85-5, the legislation now moves to the House of Representatives, where it is also expected to pass with overwhelming bipartisanship as early as Tuesday night when they return from their recess break.

Once through Congress, the bill will head to the desk of President Donald Trump to become law.

What did the bill's supporters say about the housing act?

"Today's vote proves that it is possible to find bipartisan common ground on legislation that actually helps the American people, and importantly, it proves that bipartisan legislation doesn't have to be the weakest, most milquetoast agreement that doesn't offend anyone or do too much to help anyone," Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, said on the Senate floor ahead of Monday's vote.

"I don't say this a lot, but today I'm proud to be a member of the United States Senate," Warren said.

Senate Banking Committee Chairman Sen. Tim Scott, a Republican from South Carolina, discussed how the bill can give Americans more options on Monday.

"When you put more housing supply on the market, more people have a chance to become first-time homebuyers," he said. "Today, the average first-time homebuyer is 40 years old. That is just too old."

What did the bill's opponents say about it?

Republican Sens. Ron Johnson (Wisc.), Mike Lee (Utah), Rand Paul (Ky.), Rick Scott (Fla.) and Tommy Tuberville (Ala.) voted against the legislation. Over the weekend, Sen. Rick Scott explained his objection to the legislation, arguing that the federal government cannot successfully impact housing regulation.

"Well, I don't see how it's going to drive down the cost of housing. What's going to drive down the U.S. cost of housing, two things, if you balance a budget, interest rates are going to come down, one of the biggest with lousing," Scott said on Fox News' Saturday in America. "Number two, most of regulation with respect to housing is not the federal level. It's at the local level, what cities and counties are doing. The federal government cannot drive the cost of housing down."

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