Lawmakers are still searching for a path forward on the 21st Century ROAD to Housing Act.
- Senate Banking Republicans: are weighing whether to pair community bank deregulation from the House bill with separate Senate cryptocurrency legislation to win House approval of the Senate’s housing package.
- House Financial Services Republicans: Chair French Hill (R-AR) has made it clear that banking measures are a top priority for him and more broadly, House Republicans have significant concerns with the Senate version eliminating many of their provisions.
What They’re Saying: Rep. Mike Flood (R-NE), Chair of House Financial Services Housing & Insurance Subcommittee, said in reaction:
“Quite frankly, that’s the first time in a while that I’ve seen the Senate kind of acknowledge that this is going to be a bicameral process, which I appreciate. Ultimately, if we want to get something done, we need the Senate, the House and the president, and that is a good sign.”
Meanwhile, on the Democratic side, Ranking Member of the House Financial Services Committee, Maxine Waters (D-CA), sent a “Dear Colleague” letter calling for a conference committee to reconcile the differences between the House and Senate versions.
“Unfortunately, the Senate removed several critical housing and banking provisions that House Democrats fought hard to include and that make the legislation stronger. Additionally, we need to address stakeholder concerns that have been raised since passage in the Senate, especially about whether the bill now curtails the construction of new homes and creates other unintended consequences.”
