PASSED: Senate Advances Gallego-Backed Bills in Bipartisan, Bicameral Housing Package

The package now moves to the House, where it is expected to pass later this week WASHINGTON – Following bipartisan, bicameral negotiations, the Senate today passed the final version of the 21st Century ROAD to Housing Act . The historic legislation will boost the nation’s housing supply, improve housing affordability, and strengthen oversight and efficiency of federal housing programs and regulators. The legislation includes bills authored and backed by Senator Ruben Gallego (D-AZ) . “Decades of underbuilding and underinvestment have caused home prices to soar and rents to skyrocket. If we fail to act, we will be creating the poorest generation of Americans since the Great Depression,” said Senator Gallego . “We need to build more and build faster, and this legislation will help get us there. It is an example of what is possible when a crisis is met with a spirit of problem-solving and a commitment to bipartisanship. I am proud to have secured several of my bills in this package and look forward to seeing it signed into law soon.” The Gallego-backed bills in the package include the: Housing Affordability Act – to require the Federal Housing Administration       (FHA) to increase multifamily loan limits to better match housing market costs and enhance affordability. Housing Supply Expansion Act – to modernize the federal definition of       “manufactured housing” to include modular and prefabricated units not built on a permanent chassis to encourage innovation and expand naturally occurring affordable housing. Appraisal Industry Improvement Act – to address the nationwide shortage of licensed home appraisers and improve access to housing in rural and tribal communities. VA Home Loan Awareness Act – to add a disclosure to Fannie Mae and Freddie Mac’s uniform residential loan application form and help ensure veterans are made aware of their home loan benefits, which may provide a more affordable lending option. Housing Unhoused Disabled Veterans Act – to permanently excludes veterans’ disability compensation from annual income calculations under the HUD-VASH program to help more homeless veterans access VA housing. HUD-USDA-VA Interagency Coordination Act – to direct HUD, USDA,       and the VA to identify areas for collaboration to streamline and improve housing program implementation. Streamlining Rural Housing Act – to direct HUD and USDA to coordinate on joint environmental reviews for housing projects funded by both agencies. The legislation now goes to the House of Representatives, where it is expected to pass later this week. It will then go to President Trump for his signature. This legislation is an important first step toward addressing the nation’s housing shortage. Earlier this year, Senator Gallego also released a comprehensive housing plan, “ The Path Home: Rebuilding the American Dream and Restoring Housing Affordability ,” outlining additional solutions to build more homes, cut red tape, and bring housing costs down for working families.