US Senate Passes Bipartisan Housing Bill 89 to 10
The US Senate passed a housing bill on Monday. The vote was 89 to 10.
The bill is called the 21st Century Road to Housing Act. It aims to lower housing costs by making construction and permits faster.
It also limits how many homes large investors can buy. This stops big investors from outbidding families on homes.
The bill has over 45 rules inside it. It caps how many single-family homes big investors can buy at 350.
The bill was led by Senator Tim Scott and Senator Elizabeth Warren. The House is expected to advance a housing package this week. The bill must pass the House before it becomes law.
Klear Note — Housing costs have risen sharply across the US. Large investors buying homes reduces supply for families. The Senate bill aims to make building homes faster and cheaper.
Key Terms 4
- bipartisan Supported by both Republican and Democratic politicians together
- permits Official approvals needed before builders can start construction
- institutional investor A large company that buys many homes as investments
- the House The US House of Representatives, part of Congress that votes on laws