Kaine Applauds Senate Passage of Bipartisan Legislation to Build More Homes, Expand Affordable Housing

WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA), a former fair housing attorney, applauded the Senate’s passage of the bipartisan21st Century Road to Housing Act, legislation that will build more homes, bring housing costs down, and expand access to affordable housing. The bill incorporates provisions from several pieces of legislation that Kaine has introduced, including toimprove transparency of mortgage loans for veteran homebuyers,create a pilot grant program to support new housing and community development activities,create a down payment assistance fund for first-time homebuyers, andend tax breaks for large institutional investors that buy single-family homes.
“As a former fair housing attorney, I’ve seen how access to safe, affordable housing affects a person’s well-being and long-term financial outlook,”said Kaine.“I’m glad the Senate passed this bipartisan legislation, which includes several provisions I championed, to help address our nation’s housing crisis. I often hear about rising housing costs from Virginians, and this legislation is a step in the right direction toward building more housing and lowering those costs. I’m also glad that it would prevent big investors with deep pockets from snapping up single-family homes they’ll never live in. I urge the House of Representatives to pass it as soon as possible.”
Among its many provisions, the21st Century Road to Housing Actwould:
Full bill text is availablehere. A section-by-section summary of the legislation is availablehere.
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