News. The Senate Banking Committee has released a much-anticipated draft of the housing legislation up for a procedural vote in the Senate tonight.
Dubbed the 21st Century ROAD to Housing Act, the bill was released by Chair Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.) to ease the development of new housing construction. The latest bill contains some housing components of the House’s own legislation, as we scooped last week. There’s also language to prohibit large investors from purchasing single-family housing stock – a priority for the White House.
And – as one final sweetener for House conservatives – the Scott-Warren legislation contains a temporary ban on the Federal Reserve’s ability to issue a central bank digital currency.
