The 21st Century ROAD to Housing Act, a significant bipartisan legislative package, has become law, establishing federal incentives designed to encourage communities nationwide to increase housing construction and make manufactured housing more affordable. The legislation also includes provisions to prevent private equity firms from acquiring single-family homes.
President Donald Trump, who had previously called the housing affordability crisis a "hoax" and the legislation "minor," did not sign the bill, allowing it to become law without his direct approval. Senator Elizabeth Warren, a proponent of the bill, stated that the president's delay in signing indicated a lack of concern for families facing housing affordability challenges. The act is described as the largest housing bill in over 30 years.
Lawmakers now aim to build on this momentum to address other cost-of-living issues. Warren outlined several proposed next steps, including capping credit card interest rates at 10%, a measure previously promised by Trump. She also highlighted the need to address rising grocery costs, citing anticompetitive practices in the consolidated food industry and advocating for stronger antitrust tools. Additionally, Warren proposed measures to lower healthcare expenses, such as legislation to reduce prescription drug prices and legislation to break up large corporations dominating the healthcare system.
Further proposals include lifting the Social Security payroll tax cap to ensure the program's long-term solvency and raising the federal minimum wage, which has not seen an increase in nearly two decades. The senator also pointed to the high cost of childcare, suggesting federal funding to lower expenses for families and support for childcare workers. The act's passage is seen as proof that Congress can act on critical issues, even with a disengaged president, and the focus now shifts to tackling a broader spectrum of affordability challenges.