Senator Baldwin Votes to Advance Bipartisan Housing Bill that Boosts Housing Supply and Brings Down Costs

Legislation includes bill to rein in corporate landlords
WASHINGTON, D.C.– Today, U.S. Senator Tammy Baldwin (D-WI) voted to advance legislation to boost housing supply and bring down costs for Wisconsinites, including new steps to ban large institutional investors from buying up single-family homes. The package passed the Senate 89-10 and now heads to the U.S. House of Representatives. If signed into law,the 21st Century ROAD to Housing Actwould mark the largest legislative housing package in decades.
“Everywhere I travel in Wisconsin, I hear from families struggling to make ends meet as the cost of just about everything continues to rise, including housing. I’m proud to back bipartisan legislation that will not only lower the cost to rent or buy in Wisconsin communities, but also invest in building more homes,”said Senator Baldwin.“This bill also makes important strides toward cracking down on Wall Street investors that buy up single-family homes, lock Wisconsinites out of homeownership, and drive up costs in our neighborhoods. While this bill won’t solve the housing crisis, it’s a step in the right direction and I’m proud to work with my Republican and Democratic colleagues to bring down costs and help more Wisconsinites live and invest in the communities they love.”
TheROAD to Housing Actincludes key bipartisan priorities, including a provision banning large institutional investors from buying single-family homes. Senator Baldwin has long-championedeffortsto crack down on corporate investors who buy up homes and lock Wisconsinites out of homeownership.
Key provisions of the bill include:
The bill has support from a robust group of stakeholders and experts including the U.S. Conference of Mayors, National League of Cities, Mayors and CEOs for U.S. Housing Investment, National Governors Association, Bipartisan Policy Center, Manufactured Housing Institute, Enterprise Community Partners, Habitat for Humanity, National Association of Affordable Housing Lenders, National Association of Realtors, LISC, National Consumer Law Center (on behalf of its low-income clients), National NeighborWorks Association, National Low Income Housing Coalition, National Alliance to End Homelessness, Housing Assistance Council, Council for Affordable and Rural Housing, National Rural Housing Coalition, National Housing Law Project, National Council of State Housing Agencies, Grounded Solutions Network, National Housing Resource Center, National Community Stabilization Trust, Veterans Association of Real Estate Professionals, ROC USA, UnidosUS, and NABTU.
More information about the bill is availablehere.
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