Maxine Waters

June 23 (UPI) — Lawmakers in the U.S. House of Representatives on Tuesday overwhelmingly approved a sweeping bipartisan housing package that seeks to lower housing costs and expand homeownership access, sending the legislation to President Donald Trump to be signed into law.

The House voted 358-32 in favor of the 21st Century ROAD to Housing Act on Tuesday night, with 41 lawmakers not voting.

On Monday, the Senate passed the bill in a similarly overwhelming 85-5 outcome.

“This bill speaks to the real change that our constituents have been demanding, where everyone can afford a dignified place to call home, where tenants are protected and where working Americans can finally get ahead,” Rep. Maxine Waters, D-Calif., ranking member of the House Committee on Financial Services, said from the House floor on Tuesday.

The vote follows months of haggling over the bill’s content by the House and Senate and Democrats and Republicans. In the end, the sweeping bill includes more than 60 pieces of legislation, 36 of which were sponsored by bipartisan lawmakers, according to the Bipartisan Policy Center.

The bill aims to increase housing supply while lowering costs, limiting corporate and institutional ownership for rental purposes and expanding financing for lower-income individuals.

Provisions target bureaucracy to hasten development while seeking to modernize federal housing programs and banking regulations to expand local lending and offer incentives to local governments that prioritize more housing.

Habitat for Humanity, the global nonprofit aimed at helping families build homes, applauded the legislation’s passage on Tuesday, saying it “will bring homeownership within reach for more Americans by tackling longstanding barriers in the housing system.”

“With the passage of this major legislative package, Congress has demonstrated strong, bipartisan leadership by coming to an agreement and taking a critical step in addressing the nation’s housing affordability challenge,” Jonathan Reckford, chief executive officer at Habitat for Humanity International, said in a statement.

The steeply divided Congress came together to pass legislation as the United States faces what some have called a housing affordability crisis.

The United States is facing a housing shortage that is disproportionately affecting lower-income individuals.

According to the National Low Income Housing Coalition, the United States is experiencing a shortage of 7.2 million affordable units for low-income renters, with only 35 such rental homes in existence for every 100 low-income renter households.

The nonprofit said extremely low-income renters face the shortage in every state.

House Speaker Mike Johnson, R-La., described the 21st Century ROAD to Housing Act as “transformational legislation” that will “help the housing affordability problem, reduce regulations so builders can build, limit institutional investing in the housing market and bring the American Dream back into reach for millions of young and working families.”

“Congress is paving a path back to homeownership for American families who have been locked out for far too long,” he said in a social media statement Tuesday night.

June 22 (UPI) — The U.S. Senate on Monday passed a bipartisan bill aimed at lowering housing costs, sending it to the House of Representatives for a final vote.

The Senate voted 85-5 to pass the 21st Century ROAD to Housing Act. Several senators missed the vote because of severe thunderstorms that affected Ronald Reagan International Airport, NBC News reported.

A deal on the act was negotiated by a bipartisan group including Sen. Tim Scott, R-Ariz.; Sen. Elizabeth Warren, D-Mass.; Rep. French Hill, R-Ark., and Rep. Maxine Waters, D-Calif.

Scott and Warren both said before the vote that it showed that common ground is possible.

“Today’s vote proves that it is possible to find bipartisan, common ground on legislation that actually helps the American people,” Warren said on the Senate floor, The Hill reported. “And, importantly, it proves that bipartisan legislation doesn’t have to be the weakest, most milquetoast agreement that doesn’t offend anyone or do too much to help anyone either.”

The bill’s provisions include measures that encourage renovating older homes, encourage communities to build more housing through funding and grant programs, cut some red-tape issues around building housing and effectively ban private equity from buying up single-family homes. It restricts companies that already own more than 350 single-family homes from buying more.

The act had been stranded for a time after the Senate passed one version in March and the House of Representatives passed a different version in May. The final bill includes provisions sought by the House and drops a provision it objected to that would have required large investors that own or construct at least 350 single-family homes to sell them after seven years.

Those voting against it included Sen. Rick Scott, R-Fla., who told The Hill that housing is “a local issue.” Scott said he wanted to see Congress balance the budget and drive interest rates down.

If the House votes to approve the bill this week as expected, it will go to President Donald Trump, who is expected to sign it.