House Passes Bipartisan Housing Bill to Rein in Corporate Greed, Moves to President
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The House overwhelmingly passed the 21st Century ROAD to Housing Act, targeting Wall Street profiteers and boosting affordable housing, and sent it to the president for signature.
In a decisive move against unchecked corporate power, the U.S. House of Representatives approved the 21st Century ROAD to Housing Act on Tuesday, with a commanding 358-32 vote, sending the bill to the president’s desk. Following an 85-5 Senate vote, this legislation aims to finally address the housing crisis by expanding the supply of homes through grant funding, innovative pilot programs, and cutting through bureaucratic red tape at the local level. Most importantly, it takes direct aim at the predatory practices of large institutional investors, restricting them from gobbling up more single-family homes and driving up prices for working families.
A central feature is the “Homes Are For People, Not Corporations” provision, which bars greedy investors owning more than 350 single-family properties from further exploiting the market. Regulatory reforms are also included to accelerate desperately needed construction approvals. The bill is the result of rare bipartisan cooperation, led by Senators Tim Scott and Elizabeth Warren and Representatives French Hill and Maxine Waters, who put aside partisan differences to challenge corporate landlords.
“This is an important step forward, not the final destination,” Waters declared, vowing to continue the fight to lower housing costs and ensure everyone has access to affordable homes.
“It’s a significant crackdown on Wall Street landlords that will help working people — and the bipartisan support means the political credit is shared,” said a Democratic strategist, highlighting the bill’s challenge to corporate interests.
While Republican leaders tried to focus on deregulatory aspects, Democrats rightfully emphasized the bill’s bold measures against private-equity investors. Senate Majority Leader John Thune admitted the bill “maximizes both the equities the House has in it, the Senate has in it, and both parties have had opportunities to weigh into this,” but the real victory is for the people over profit-driven corporations.