WASHINGTON – U.S. Senator Amy Klobuchar released the following statement on the Senate passage of the bipartisan 21st Century ROAD to Housing Act. The bill passed 89-10 and now heads to the House of Representatives.
“The American Dream is out of reach for far too many, which is why Democrats and Republicans came together to pass legislation to build more homes, drive down costs, and to limit the number of homes private corporations can buy up while families struggle to afford a place to live.
This legislation includes my bill to give state and local governments new tools to modernize zoning laws and expand housing development. By helping communities plan for growth and remove barriers to building, we can increase housing supply and lower costs.
Housing is the foundation of economic security, and this bill takes important steps to make housing more affordable while expanding opportunities for homeownership across Minnesota and the country.”
The 21st Century ROAD to Housing Act is bipartisan legislation aimed at increasing housing supply and reducing costs by reducing regulatory barriers, streamlining development approvals, expanding manufactured and modular housing, and converting underused buildings into homes.
The bill creates new incentives and grant programs to help states and localities modernize zoning and expand housing development – including a HUD regional housing planning grant program based on Senator Klobuchar’s Housing Supply and Affordability Act.
The bill also includes provisions to limit certain large institutional investors from raising prices through purchasing additional existing single-family homes.
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