Congress Passes Major Federal Housing Law to Address Shortage
Congress has passed the 21st Century ROAD to Housing Act, marking the first major federal housing legislation in decades. The law aims to address the housing shortage by incentivizing cities to increase housing supply. It ties federal block-grant money to housing development results, rewarding cities that add homes and penalizing those that do not. The legislation also streamlines federal environmental reviews and removes outdated regulations that have hindered affordable housing development. This bipartisan effort, led by Senators Tim Scott and Elizabeth Warren, along with Representatives French Hill and Maxine Waters, reflects a growing consensus on the need to build more housing to reduce costs.