Press Release

WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.) , a member of the Senate Finance Committee , today applauded the Senate’s advancement of the 21 st Century ROAD to Housing Ac t , bipartisan legislation led by U.S. Senators Elizabeth Warren (D-Mass.) and Tim Scott (R-S.C.) , which focuses on the root cause of rising housing costs by cutting red tape, unlocking housing supply, lowering costs for families, protecting taxpayers, and preserving local control. The legislation now heads to President Trump’s desk. Senator Welch released the following statement: “The cost of housing in America has skyrocketed, while supply has dwindled. This has been especially devastating for rural communities, where multimillion-dollar companies are buying up homes meant for families. There’s no question that President Trump’s reckless economic policies have exacerbated financial hardships facing hardworking Americans and put homeownership further out of reach. “The housing crisis is not only unsustainable for our economy but devastating for so many families who work hard every day in hopes of achieving a key pillar of the American dream: becoming a homeowner. Our work is cut out for us. We need to cut through red tape to make it easier to build homes and protect taxpayers by preventing private equity from dominating the housing market. “I’m pleased to support this historic bipartisan housing package, which will make a real difference for Vermonters and create a strong foundation for Congress to continue improving housing affordability across the United States.” View and download the full text of the 21 st Century ROAD to Housing Act , and read a section-by-section summary of the bill. Senator Welch has led bipartisan efforts to address Vermont’s affordable housing crisis. In March, Senator Welch joined Sens. Jim Justice (R-W.Va.), Adam Schiff (D-Calif.), and Cindy Hyde-Smith (R-Miss.) in introducing the bipartisan FARM Home Loans Act , bipartisan legislation to spur rural economic growth by helping more homebuyers qualify for rural housing assistance. The Senator is also a cosponsor of the First-Time Homebuyer Tax Credit Act , legislation that aims to support middle-class Americans purchasing their first home, and the End Rent Fixing Act, which would crack down on companies that help landlords increase rents in already high-priced markets. The Senator’s bipartisan, bicameral HOPE for HOMES Act , which helps lower energy costs for homeowners and reduce greenhouse gas emissions while also investing in the workforce, was included as part of the Biden-Harris Administration’s historic Inflation Reduction Act . The Senator has also delivered millions in federal dollars to support the construction of affordable housing in Vermont through the Congressionally Directed Spending (CDS) process. ###