Senate Banking advances first large, bipartisan housing package in a decade
The Renewing Opportunity in the American Dream to Housing Act of 2025, sponsored by Chair Tim Scott (R-S.C.) and ranking member Elizabeth Warren (D-Mass.), includes proposals that aim to expand and preserve the housing supply, improve housing affordability and access, advance accountability and fiscal responsibility, and improve oversight and program integrity.
'Many people around the country, frustrated with the way we do American politics, wonder, is there any issue that brings this nation together? And I'm here to say hallelujah! We have found one. It is housing,' Scott said before the panel advanced the bill by a 24-0 vote.
The legislation directs the Department of Housing and Urban Development to create a new grant and loan program for qualifying homeowners and small landlords to address home repairs and health hazards, develop best practice frameworks for zoning and land-use policies and create a pilot program to incentivize housing development of all kinds in Community Development Block Grant participating jurisdictions, among other actions.
Those asks come as the Trump administration is pushing for deep staff and budget cuts at HUD.
'There are new programs here that should operate more directly with the states and local communities so that we're not at the mercy of a stripped down HUD. But I worry about HUD being under resourced to meet its current obligations, much less to take on more,' Warren said in an interview following the markup.
Members on both sides of the aisle acknowledged issues with HUD, but said it was important to get something done to improve what many view as a growing housing crisis. The bill received support from a broad range of groups representing the real estate industry, home builders, mortgage bankers, affordable housing organizations and local governments.
'You have to start someplace. And part of it is to upgrade and to modernize a number of the issues that are causing us problems,' said Sen. Mike Rounds (R-S.D.) in an interview on Monday.
Some members who have been working on parts of the bill for years acknowledged the potential impact of substantial cuts at HUD.
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