The House’s housing affordability package will hit the floor Monday before a vote.
The 21st Century Housing Act, a bipartisan package of provisions aimed at reducing the rising cost of home ownership, is on the floor agenda. Arkansas Rep. J. French HillRepublican who introduced the bill, in a statement to The Hill on Friday that he intends to see it pass.
The bill passed out of committee 50-1 in December. It may be considered under the rulemaking, according to the House floor calendar. That process has special rules that limit debate and prevent floor amendments to the bill. A two-thirds vote is needed to pass it.
The move comes as the government grapples with widespread pessimism in the housing market and worries that homes are becoming increasingly unaffordable for many Americans. Both parties have made housing a major political issue in a session with several different issues.
Nebraska Rep. Mike Zamcoloand the Republican, who chairs the House and Insurance subcommittee, joined Hill in the op-ed.
“Bottom line, when there isn’t enough housing, prices go up. The 21st Century Housing Act includes real, bipartisan solutions to improve development by removing red tape and allowing communities and local banks to do their jobs,” they wrote. “That’s how we expand offerings, reduce costs and give families more options.”
A similar bipartisan bill focused on matching purchases in the Senate, the ROAD (Restoring Opportunity for the American Dream) to Housing Act, advanced last summer and was included in the National Defense Authorization Act. But it was removed in December.
The Housing for the 21st Century Act was explained
The 199-page bill contains nearly two dozen provisions. It proposes new rules to simplify reviews, exempt some small developments from certain requirements, and modernize local development and housing plans.
It also expands financing for manufactured and affordable housing, including financing provisions for multifamily housing, and proposes reforms to housing counseling and financial literacy programs.
Finally, it requires more reporting and research on barriers to housing, especially for the elderly and disabled, and mandates more oversight of the Department of Housing and Urban Development and public housing agencies.
Hill, who chairs the House Financial Services Committee, said the goal is to build more homes of all types, including single-family, multi-family, and manufactured homes.
Bipartisan focus on solving the housing crisis
Tim Larsonpresident and CEO of Champion Homes, recommended the legislation on a Feb. 1 earnings call. 4, which he says will improve opportunities for off-site homebuilders, who are struggling with a slow housing market.
“There is still a lot of focus on solving the housing crisis, and we believe that is the foundation for the Senate and the House to work together to pass meaningful legislation,” Larson said.
The Housing for the 21st Century Act bill could give the Senate the impetus to move forward with the ROAD to Housing Act, it said. Francis Torreshousing director of the Bipartisan Policy Center.
“It comes down to an important topic of domestic policy, which is affordability,” Torres said. “Housing is the No. 1 economic issue, the fact that there is this momentum and the interest of voters could create a bipartisan push to close the gap.”
But the details of solving the problem of inability to buy are not straightforward. The Senate version takes more provisions than the House version. Some Senate provisions related to disaster recovery, rental property management, and grant programs could lead to more spending, as well as House opposition.
Torres said the bills are a window for several types of interests to go against the same cause. That includes those who favor more housing, those who want to reduce regulations, and those who want broader government reforms.
“These bills don’t come out of nowhere. They are a collection of ideas that have been developing for a long time,” said Torres. “Lawmakers will have to reconcile, but both bills prove that housing is a very important opportunity for bipartisan action in a Congress that doesn’t see much happening right now. It’s a testament to the importance of housing.”
