Senate adds Trump ban on purchases by large investors to bipartisan housing bill
Are they actually going to vote on something real?
The Senate added language that would ban large institutional investors from purchasing single-family homes into bipartisan housing legislation, a big win for the White House.
President Donald Trump has advanced such a ban as a key plank of his housing agenda, even though it is at odds with traditional Republican free-market economics. The provision’s inclusion will likely receive a mixed reaction among congressional Republicans.
MIXED GOP RECEPTION FOR TRUMP BAN ON LARGE INVESTORS BUYING SINGLE-FAMILY HOMES
The inclusion of the institutional investor ban is one of the biggest changes to the now-renamed the 21st Century ROAD to Housing Act. The Senate is holding a vote on whether to proceed on the measure Monday.
Other major changes include the deletions of one provision that would have directed more community development block grants to localities that permit more housing and another that would have essentially graded every state and city on their zoning laws.
There have been two competing bipartisan housing bills — the Senate’s ROAD to Housing Act and the House’s Housing for the 21st Century Act. They share some important similarities, but also significant differences and the latest legislative language is an attempt to reconcile the two.
Trump first announced the proposed ban earlier this year and later signed an executive order meant to effectuate it in part. But the administration’s goal has always been for Congress to pass such a restriction into law. He mentioned the executive order during the State of the Union last week and called on Congress to codify a ban.
“I’m asking Congress to make that ban permanent, because all this for, people, really, that’s what we want,” the president said. “We want homes for people, not for corporations. Corporations are doing just fine.”
The White House previously circulated draft legislative language on such a ban on large investors. The original language in the White House draft defined a “large institutional investor” as any investment fund, corporation, or entity that controls over 100 single-family homes.
The bill released Monday raises that threshold to 350.
While Trump and the White House have been supportive of such a move, some Republicans on Capitol Hill are opposed to banning firms from purchasing homes.
Sen. Thom Tillis (R-NC), a member of the Senate Banking, Housing, and Urban Affairs Committee, pointed out to the Washington Examiner that the policy has been proposed by liberal Democrats in …
Are they actually going to vote on something real?
The Senate added language that would ban large institutional investors from purchasing single-family homes into bipartisan housing legislation, a big win for the White House.
President Donald Trump has advanced such a ban as a key plank of his housing agenda, even though it is at odds with traditional Republican free-market economics. The provision’s inclusion will likely receive a mixed reaction among congressional Republicans.
MIXED GOP RECEPTION FOR TRUMP BAN ON LARGE INVESTORS BUYING SINGLE-FAMILY HOMES
The inclusion of the institutional investor ban is one of the biggest changes to the now-renamed the 21st Century ROAD to Housing Act. The Senate is holding a vote on whether to proceed on the measure Monday.
Other major changes include the deletions of one provision that would have directed more community development block grants to localities that permit more housing and another that would have essentially graded every state and city on their zoning laws.
There have been two competing bipartisan housing bills — the Senate’s ROAD to Housing Act and the House’s Housing for the 21st Century Act. They share some important similarities, but also significant differences and the latest legislative language is an attempt to reconcile the two.
Trump first announced the proposed ban earlier this year and later signed an executive order meant to effectuate it in part. But the administration’s goal has always been for Congress to pass such a restriction into law. He mentioned the executive order during the State of the Union last week and called on Congress to codify a ban.
“I’m asking Congress to make that ban permanent, because all this for, people, really, that’s what we want,” the president said. “We want homes for people, not for corporations. Corporations are doing just fine.”
The White House previously circulated draft legislative language on such a ban on large investors. The original language in the White House draft defined a “large institutional investor” as any investment fund, corporation, or entity that controls over 100 single-family homes.
The bill released Monday raises that threshold to 350.
While Trump and the White House have been supportive of such a move, some Republicans on Capitol Hill are opposed to banning firms from purchasing homes.
Sen. Thom Tillis (R-NC), a member of the Senate Banking, Housing, and Urban Affairs Committee, pointed out to the Washington Examiner that the policy has been proposed by liberal Democrats in …
Senate adds Trump ban on purchases by large investors to bipartisan housing bill
Are they actually going to vote on something real?
The Senate added language that would ban large institutional investors from purchasing single-family homes into bipartisan housing legislation, a big win for the White House.
President Donald Trump has advanced such a ban as a key plank of his housing agenda, even though it is at odds with traditional Republican free-market economics. The provision’s inclusion will likely receive a mixed reaction among congressional Republicans.
MIXED GOP RECEPTION FOR TRUMP BAN ON LARGE INVESTORS BUYING SINGLE-FAMILY HOMES
The inclusion of the institutional investor ban is one of the biggest changes to the now-renamed the 21st Century ROAD to Housing Act. The Senate is holding a vote on whether to proceed on the measure Monday.
Other major changes include the deletions of one provision that would have directed more community development block grants to localities that permit more housing and another that would have essentially graded every state and city on their zoning laws.
There have been two competing bipartisan housing bills — the Senate’s ROAD to Housing Act and the House’s Housing for the 21st Century Act. They share some important similarities, but also significant differences and the latest legislative language is an attempt to reconcile the two.
Trump first announced the proposed ban earlier this year and later signed an executive order meant to effectuate it in part. But the administration’s goal has always been for Congress to pass such a restriction into law. He mentioned the executive order during the State of the Union last week and called on Congress to codify a ban.
“I’m asking Congress to make that ban permanent, because all this for, people, really, that’s what we want,” the president said. “We want homes for people, not for corporations. Corporations are doing just fine.”
The White House previously circulated draft legislative language on such a ban on large investors. The original language in the White House draft defined a “large institutional investor” as any investment fund, corporation, or entity that controls over 100 single-family homes.
The bill released Monday raises that threshold to 350.
While Trump and the White House have been supportive of such a move, some Republicans on Capitol Hill are opposed to banning firms from purchasing homes.
Sen. Thom Tillis (R-NC), a member of the Senate Banking, Housing, and Urban Affairs Committee, pointed out to the Washington Examiner that the policy has been proposed by liberal Democrats in …
