Congress has passed the 21st Century ROAD to Housing Act, a bipartisan housing bill aimed at addressing housing affordability and supply challenges across the country. The bill passed the Senate and House with overwhelming support and now awaits final action by the President.
As of this update, the bill has not been signed into law. President Trump canceled a planned signing event on June 24 and stated that he would delay action until Congress advances the SAVE America Act, an unrelated elections bill. That decision has created uncertainty around the timing of final action.
If signed into law, the bill would make changes across several areas of federal housing policy. It includes provisions related to housing supply, manufactured and modular housing, mortgage finance, disaster recovery, federal housing programs, and the role of large institutional investors in the single-family housing market.
Once the bill is formally presented to the President, the Constitution gives him 10 days, excluding Sundays, to sign it or return it to Congress with objections. If he takes no action and Congress remains able to receive a veto message, the bill becomes law without his signature. If he takes no action and Congress adjourns in a way that prevents the bill from being returned, the bill does not become law. That outcome is commonly known as a pocket veto.
The Alliance is tracking this legislation because housing affordability is directly tied to the work of Black-led CDFIs. Our members operate in communities where aging housing stock, appraisal gaps, rising construction and insurance costs, limited subsidy, and too little flexible capital can make housing projects difficult to finance. If enacted, the bill could affect some of the tools local governments, lenders, developers, and community partners use to build, repair, preserve, and finance affordable housing.
The Alliance will continue monitoring developments and will provide additional analysis if the bill is signed, vetoed, becomes law without the President’s signature, or is delayed further.
