Democrats on the House Financial Services Committee sent the Senate Banking Committee a counteroffer to the 21st Century ROAD to Housing Act, according to sources familiar with the exchange.
The offer, sent on Friday, asks the Senate to include 15 Democrat-led provisions from the House’s original Housing for the 21st Century Act and strike certain ROAD provisions, including the proposed ban on a central bank digital currency. Democrats also asked the Senate to consider additional policies that didn’t make the House’s bipartisan housing bill.
We don’t want to put too much emphasis on the House Democratic offer. They’ve got the smallest amount of leverage among the four corners of financial policy right now. But the sheer number of revisions and requests here underscores the divisions around a landmark bill that the Senate Banking Committee continues to argue is a “bicameral” product.
