Senate passes sweeping housing affordability bill with bipartisan support

BREAKING NEWSJun. 22, 2026, 10:43 PM UTCCongressCongressSenate passes bill to lower housing costs and restrict Wall Street from buying homesThe bipartisan legislation was crafted in both chambers and must now pass the House. It seeks to build more homes and prevent large investors from out-bidding families.Listen to this article with a free account00:0000:00A real estate for-sale sign posted in front of a residential home in Portland, Oregon.Tim Newman / Getty Images fileShareAdd NBC News to GoogleBy Sahil KapurWASHINGTON — The Senate voted overwhelmingly on Monday to pass a sweeping housing affordability bill aimed at lowering costs, putting Congress on the brink of a rare bipartisan victory in President Donald Trump’s second term.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The vote was 85-5.The legislation, which makes it easier to build homes and slaps limits on Wall Street investors from buying up houses, now goes to the House, which hopes to vote on it in the next few days. Then, it would go to Trump’s desk to be signed into law.The 21st Century ROAD to Housing Act will be a desperately needed win for Republicans, who have seen their 2026 midterm election prospects deteriorate throughout the year as voters believe Trump and the GOP-controlled Congress haven’t done enough to tackle the cost of living.A mid-June poll by The Associated Press found that Trump’s overall approval rating is 37%, dragged down by the fact that just 33% said they approve of his handling of the economy. Other surveys have shown him getting low marks on handling the cost of living, the main issue that powered him to victory in 2024. And a June NBC News poll showed nearly 80% of U.S. voters believe the “American Dream” is harder to achieve than it was a generation ago.This bill represents a tangible victory on a top affordability concern. The “four corners” deal reached last week among key committee chairs, which was blessed by party l...