This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Congressman French Hill (R-AR), Chairman of the Committee issued the following statements after the Senate passed the ‘21^st Century ROAD to Housing Act.

The legislation represents one of the most significant bipartisan housing packages advanced by Congress in recent years and includes dozens of provisions to increase housing supply, lower costs, expand homeownership opportunities, modernize federal housing programs, and support local lenders that help finance housing development and mortgages.

Specifically, the legislation:

• Advances over 50 housing provisions and community banking reforms championed by House Democrats. This includes:
  • Numerous housing provisions which will reduce unnecessary barriers to housing development, increase housing supply, expand financing for housing and community investment, support the development of innovative housing like modular homes and accessory dwelling units, provide new protections for renters, improve programs to end homelessness, and codify the disaster recovery program to help expedite funds to communities rebuilding after disaster, and
    
  • 9 community financial institution bills to support thousands of community lenders, including community banks, credit unions, community development financial institutions (CDFIs), and minority depository institutions (MDIs), so they can more affordably finance homebuyers and housing developers.
    
• Encompasses the House’s solution to responsibly rein in corporate landlords, banning large institutional investors from purchasing single-family housing without curtailing critical housing development, such as for Build-to-Rent, or needlessly evicting families.
  
  

Ranking Member Waters said:

“Housing is the gateway to opportunity, stability, and economic prosperity. If we want to build a stronger nation where working families can succeed, it starts with taking our housing crisis head on by expanding affordability, increasing access, boosting supply, and creating pathways to homeownership. Understanding that reality is why I have said since day one that housing must be a national priority. By no means was this bill a small feat. It required difficult conversations and tough negotiations to get across the finish line. But in the end, we delivered stronger, more impactful legislation with more housing opportunities for the American people. That is why I commend Chair Hill, Senators Warren and Scott, Housing and Insurance Subcommittee Ranking Member Emanuel Cleaver, and Chair Mike Flood for coming together on this shared goal. This legislation will help increase housing supply and lower costs for families across the country. However, our work is far from over and this is not the end of the conversation. It is the beginning of a renewed effort to tackle our housing affordability crisis and ensure every American has access to a safe, decent, and affordable place to call home.”

Chair Hill added:

“Housing affordability starts with supply, and this bill makes meaningful progress toward building more homes and lowering costs for American families. For the past two Congresses, Senate Banking Committee Chairman Tim Scott and I have prioritized a set of shared supply side policies that will benefit our citizens across the Nation. I thank Ranking Members Elizabeth Warren and Maxine Waters for their work advancing this housing package,” said Chairman Hill. “This bicameral product reflects meaningful House equities – including community banking provisions, protections against institutional investors crowding families out of the housing market, and updates HUD’s HOME Investment Partnership Program. I look forward to the House moving quickly to advance this bill to President Trump’s desk.”

Click here for text of the bill.
Click here for a section by section.

Further Background:

• On June 16, 2026, Ranking Member Waters, Chairman Hill, Senate Banking Committee Ranking Member Elizabeth Warren (D-MA), and Chairman Tim Scott (R-SC) released updated bicameral text of the 21^st Century ROAD to Housing Act after reaching agreement on a final package that incorporated key House priorities and strengthened several provisions included in earlier versions of the legislation.
  
• On May 20, 2026, the House overwhelmingly passed bipartisan amendments to the 21^st Century ROAD to Housing Act by a vote of 396-13.
  
• On May 19, 2026, Ranking Member Waters and Chairman Hill released updated House text reflecting bipartisan negotiations and Member feedback.
  
• During negotiations, Ranking Member Waters secured key improvements to provisions related to the Rental Assistance Demonstration (RAD) and Build Now to better protect affordable housing and public housing residents.
  
• On March 23, 2026, Ranking Member Waters called for House and Senate leaders to negotiate a final bipartisan package and reconcile differences between the House and Senate bills.
  
• On February 9, 2026, the House overwhelmingly passed the Housing for the 21st Century Act by a vote of 390-9. The package was developed by Ranking Member Waters, Chairman Hill, Housing and Insurance Subcommittee Ranking Member Emanuel Cleaver (D-MO), and Subcommittee Chairman Mike Flood (R-NE).
  
• On December 17, 2025, the House Financial Services Committee advanced the Housing for the 21^st Century Act by a bipartisan vote of 50-1.
  
• On December 11, 2025, Ranking Member Waters, Chairman Hill, Ranking Member Cleaver, and Chairman Flood released the bipartisan Housing for the 21^st Century Act.
  
• The legislation builds on Ranking Member Waters’ longstanding efforts to address the housing affordability crisis, including the Housing Is Infrastructure Act, the Downpayment Toward Equity Act, and the Ending Homelessness Act.
  
• The Committee's work was informed by a series of bipartisan hearings examining housing affordability, housing supply, homeownership, and federal housing programs.
  
  

###