In a highly anticipated move, the House voted 358-32 to pass the 21st Century ROAD to Housing Act on June 23, sending the measure to the desk of President Donald Trump to await his signature. Trump indicated via social media that he does not plan to sign the bill until Congress passes the Safeguard American Voter Eligibility (SAVE) Act.
Today, Trump wrote the following on his Truth Social page:
"Today’s Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency. Thank you for your attention to this matter! President DJT"
As noted in Dodd Frank Update’s ongoing coverage, the comprehensive piece of legislation contains dozens of affordable housing initiatives supported by the financial services industry.
“By advancing commonsense reforms that encourage housing production and improve program efficiency, Congress has demonstrated that bipartisan cooperation can deliver real results for consumers, communities, and the broader economy,” Mortgage Bankers Association President and CEO Bob Broeksmit said in a statement. “We look forward to President Trump signing this legislation into law and will continue working with Congress and the administration to advance additional legislative and regulatory reforms that improve housing affordability, increase housing production, lower closing costs, and expand homeownership and rental opportunities.”
Learn more details about the legislation in our previous coverage and look for more industry reactions in an updated version of this article.
For more stories on affordable housing, visit our sister publicationThe Title Report's Housing Inventory & Attainability Watch library.