Senate adds Trump ban on purchases by large investors to bipartisan housing bill
What's the endgame here?
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 21st Century ROAD to Housing Act. The Senate is holding a vote on whether to proceed with the measure Monday.
Other major changes include the deletion of one provision that would have directed more federal funding to localities that permit more housing near transit and another that would have essentially graded every state and city on their zoning laws.
Another major addition is that the bill would ban the Federal Reserve from issuing a central bank digital currency through 2030. Banning CBDCs, as they are known, has been a goal for conservatives worried about surveillance by the Fed.
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 attempts to reconcile the two.
Trump first announced the proposed ban earlier this year and later signed an executive order intended to effectuate it in part. But the administration’s goal has always been to have Congress 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 …
What's the endgame here?
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 21st Century ROAD to Housing Act. The Senate is holding a vote on whether to proceed with the measure Monday.
Other major changes include the deletion of one provision that would have directed more federal funding to localities that permit more housing near transit and another that would have essentially graded every state and city on their zoning laws.
Another major addition is that the bill would ban the Federal Reserve from issuing a central bank digital currency through 2030. Banning CBDCs, as they are known, has been a goal for conservatives worried about surveillance by the Fed.
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 attempts to reconcile the two.
Trump first announced the proposed ban earlier this year and later signed an executive order intended to effectuate it in part. But the administration’s goal has always been to have Congress 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 …
Senate adds Trump ban on purchases by large investors to bipartisan housing bill
What's the endgame here?
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 21st Century ROAD to Housing Act. The Senate is holding a vote on whether to proceed with the measure Monday.
Other major changes include the deletion of one provision that would have directed more federal funding to localities that permit more housing near transit and another that would have essentially graded every state and city on their zoning laws.
Another major addition is that the bill would ban the Federal Reserve from issuing a central bank digital currency through 2030. Banning CBDCs, as they are known, has been a goal for conservatives worried about surveillance by the Fed.
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 attempts to reconcile the two.
Trump first announced the proposed ban earlier this year and later signed an executive order intended to effectuate it in part. But the administration’s goal has always been to have Congress 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 …
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