Dems Celebrate Housing Bill: “We Finally Did Something”

The bipartisan housing bill the House and Senate passed this week doesn’t go far enough, Democratic leaders say. But it’s still one of the most significant pieces of housing legislation passed in decades. Further Democratic goals on housing might have to wait for a new Congress.The 21st Century ROAD to Housing Act, which President Trump could sign as early as Wednesday, was a collaboration between Senate Banking Committee Chairman Tim Scott, a Republican from South Carolina, and ranking member Elizabeth Warren, a Democrat from Massachusetts. On Monday night, the bill passed the Senate handily with a vote of 85–5. On Tuesday, the House advanced it with a 358–32 vote.“The biggest win is we finally did something,” said Senator Peter Welch, a Democrat from Vermont, gesturing at Congress’s usual partisan gridlock. “In this world, the fact that you’ve got Tim Scott and Elizabeth Warren and the entire U.S. Senate to support housing shows that we’re finally focusing on something that really matters to the American people. So I see it as a beginning.”In terms of substantive victories, Warren emphasized a restriction on the purchase of new single-family homes by large institutional investors that own at least 350 single-family homes.“For the first time ever, [we] tell private equity ‘no,’ they cannot mow through every neighborhood in America and turn us into a nation of renters,” she told The New Republic.Warren also pointed to the bill’s efforts to increase housing supply, which housing policy expert Will Fischer of the Center on Budget and Policy Priorities called the “central theme” of the bill. The bill removes some regulatory barriers and streamlines environmental reviews to accelerate the construction of affordable housing—including the first federal guidelines on zoning reform. The bill also creates an “Innovation Fund” that rewards communities that successfully build more housing.By removing the requirement that manufactured homes have a permanent steel chassis beneath them, the bill could bring down the cost of a new unit by up to $10,000, according to Warren’s office.These provisions, Fischer said, are “part of what’s needed to address the housing crisis in the country to build more housing, but they are only a first step in order to really solve the affordable housing crisis.”So what’s next? Fischer pointed to the need for more rental assistance programs that will help the lowest-income Americans afford a place to live. Increasing the supply of housing is critical, he said, but not sufficient to fix the issue. “No matter how much we build, that’s never going to be enough to make housing affordable to tens of millions of people with low incomes,” he said.Rental assistance programs are a harder sell with Republicans, and the Trump administration has attempted to cut such programs through the Department of Housing and Urban Development. “It’s unlikely that the current Congress is going to take the kind of action that’s really needed to sharply reduce homelessness and evictions,” Fischer said.Democrats echoed that sentiment in their public statements. “Our work is far from over and this is not the end of the conversation. It is the beginning of a renewed effort to tackle our housing affordability crisis and ensure every American has access to a safe, decent, and affordable place to call home,” said Representative Maxine Waters, a Democrat from California and the ranking member on the House Committee on Financial Services, in a statement.Still, the message on Tuesday was one of optimism. “Let me put it this way,” Warren said. “The bill is not the one I would have written all by myself, but there are some really big wins here that made all the work and all the pain totally worthwhile.”