The Renewing Opportunity in the American Dream (ROAD) to Housing Act passed the Senate as a manager’s amendment to the 2026 National Defense Authorization Act (NDAA) with a vote of 77-20.

  • Go Deeper: The Bipartisan Policy Center wrote an explainer on what’s in each section of the ROAD to Housing Act, which contains 40 different Senate bills related to housing and unanimously passed out of Senate Banking, Housing, and Urban Affairs committee.

Some key measures, summarized in our July 30 edition, include:

  • Community Investment and Prosperity Act, which raises the cap on banks’ public welfare investments from 15 to 20 percent;
    • Why This Matters: As many banks hit the current 15 percent cap, this increase would enable them to expand their investments in LIHTC and other affordable housing related tax credits.
  • Elimination of the Rental Assistance Demonstration (RAD) cap and makes the program permanent;
  • Streamlining National Environmental Policy Act (NEPA) reviews;
  • Re-authorizing the HOME Investment Partnerships Program;
  • Removal of barriers to modular and manufactured housing;
  • Provisions to modernize and strengthen USDA’s multifamily housing programs, including decoupling rental assistance from maturing mortgages to preserve affordable housing in rural areas; and
  • Improving Self-Sufficiency of Families in HUD-Subsidized Housing

What They’re Saying:

Senator Tim Scott (R-SC), Chair of Senate Banking, Housing, and Urban Affairs Committee:

“From protecting our military bases from Chinese influence, to securing America’s supply chains, to expanding access to housing, these provisions reflect the priorities of the American people: safety, security, and opportunity.”

Senator Elizabeth Warren (D-MA), Ranking Member of Senate Banking, Housing, and Urban Affairs Committee:

“Today, the Senate took a historic step towards addressing our nation’s worsening housing crisis and bringing down costs for the American people by passing the bipartisan ROAD to Housing Act. This landmark legislation – the first of its kind in more than a decade – takes important steps to boost the nation’s housing supply, improve housing affordability, and increase oversight and efficiency of federal regulators and housing programs.”

What’s Next: The House and Senate need to conference on the NDAA, as the ROAD to Housing Act is not included in the House-passed version of the bill. Conference could be delayed as long as the House remains out of session for the Government shutdown.

Conference Negotiations? Once negotiations resume, expect House Financial Services Chair French Hill (R-AR) and Ranking Member Maxine Waters (D-CA) to weigh in on elements of the ROAD to Housing Act, as the bill has still not been taken up by their committee.