Speaker Mike Johnson (R-La.) said Sunday he will send the bipartisan housing affordability bill to President Donald Trump on Monday, reviving legislation that was unexpectedly delayed last week.
“It’s passed by both chambers. I’m sending it to him on Monday, and it will become law,” Johnson said on Fox News “Sunday Morning Futures”.
The bill, known as the 21st Century ROAD to Housing Act, is designed to boost housing supply, reduce development bottlenecks and improve affordability. It also includes measures aimed at limiting large investors’ influence in the single-family housing market.
Trump abruptly canceled the signing ceremony last week in an effort to pressure Republicans into advancing the SAVE America Act, a separate voter ID proposal requiring photo identification for federal elections and proof of U.S. citizenship for voter registration.
Johnson has said the SAVE America Act may need to move through budget reconciliation, a Senate process allowing certain legislation to pass with a simple majority rather than the usual 60 votes required to overcome a filibuster.
Because the housing bill has already passed both chambers of Congress, it could still become law even if Trump declines to sign it. Under the U.S. Constitution, a bill automatically becomes law after 10 days if the president neither signs nor vetoes it while Congress remains in session.
Housing Pressure Keeps Building
The political delay comes as U.S. housing affordability remains under intense pressure.
Recent analysis from Morgan Stanley suggests Americans may not see pre-2022 housing affordability again, even if mortgage rates fall to 4% or 5%. In the bank’s base case, mortgage payments still consume roughly 21% of household income, far above the historical average of about 15%.
The median monthly home payment has climbed to roughly $2,000, nearly double the level seen five years ago.
Market data also points to a cooling but strained housing market. According to data highlighted by The Kobeissi Letter, 46% of U.S. home sellers offered concessions to buyers in May, the highest May reading on record and roughly double 2022 levels.
That suggests sellers are increasingly offering price cuts and incentives as high mortgage rates continue to suppress demand.
Political Backlash Intensified
Trump’s earlier decision to delay the bill triggered sharp criticism from Democrats.
Sen. Elizabeth Warren (D-Mass.) accused Trump of holding housing relief hostage, saying millions of Americans struggling with rent and homeownership could not afford further delays.
Other lawmakers, including Sen. Mark Kelly (D-Ariz.) and House Minority Leader Hakeem Jeffries (D-N.Y.), also called for immediate action, arguing the housing crisis remains a growing national economic challenge.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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