The 21st Century ROAD to Housing Act passed the Senate last Thursday (89-10) with Senator Brian Schatz (D-HI) as the only Democrat to vote against the legislation.
What They’re Saying: Senator Schatz said during his floor speech about Build-to-Rent provisions, “We have decided, for no particular reason other than what I think is a drafting error, to demonize people who want to build rental housing for folks.”
- Senator Ted Cruz (R-TX) and Senator Rand Paul (R-KY) also voted against the bill because of Build-to-Rent concerns.
What’s Next: The bill goes back to the House where it is unclear if the legislation will be voted on as is or opened up for amendments. The House has just six legislative days before it adjourns for a two-week recess.
House Leadership and Chairman of the House Financial Services Committee, French Hill (R-AR), shared their desire for a conference process to address the BTR provisions and Chairman Hill’s desire for a permanent ban on central bank digital currency, as opposed to the 5-year ban in the Senate’s bill.
