PASSED INTO LAW: Major Bipartisan Housing Package Pushed by Senator Hassan That Bans Wall Street Home Purchases, Makes Building Homes Easier

WASHINGTON – U.S. Senator Maggie Hassan (D-NH) today celebrated the fact that the bipartisan 21st Century ROAD to Housing Act has become law. This major bipartisan legislative package, cosponsored and advocated for by Senator Hassan, reduces the cost of housing by banning Wall Street hedge funds and private equity firms from buying up single-family homes, providing funding and cutting red tape to help build more middle-class homes, and making it easier for veterans to buy homes. The historic legislation became law without President Trump’s signature because President Trump used the possibility of vetoing the legislation in an effort to pressure Congress to pass a voter suppression bill known as the SAVE America Act . “Families across the country deserve the opportunity to buy a home, raise a family, and build a future in the communities that they love, but that dream is too hard to reach as Wall Street buys up single-family homes and costs soar,” said Senator Hassan . “The 21st Century ROAD to Housing Act is an important step toward addressing our housing shortage. The bill bans Wall Street from buying single-family homes and makes it easier to build more homes for hard-working families. President Trump chose politics over this bipartisan effort to lower housing costs, but I'm glad that this bipartisan bill is now law.” Senator Hassan was a strong supporter of the entire package, which contains a number of Hassan-backed housing bills, including: • The Housing Supply Expansion Act , which makes manufactured homes more affordable for families • The PRICE Act , which provides funding to manufactured housing communities for important infrastructure upgrades and weatherization • The VA Home Loan Awareness Act , which helps veterans learn about the VA home loan benefits that may be available to them when buying a home • The Streamlining Rural Housing Act , which cuts red tape and unnecessary barriers that often delay new construction and drive housing costs even higher Senator Hassan has worked to address affordability and availability of housing in New Hampshire, including by pushing to successfully restore a tax cut for middle class families who have mortgage insurance and expand the Low-Income Housing Tax Credit in order to help increase access to housing that families can more easily afford. ###