Bipartisan agreement on the 21st Century ROAD to Housing Act caps investor homebuying and bars a digital dollar through 2030
Congress moved closer Tuesday to passing the 21st Century ROAD to Housing Act (ROAD Act) — short for Renewing Opportunity in the American Dream.
Sen. Elizabeth Warren (D-MA) called it the most consequential housing legislation in more than three decades, as the leaders of the Senate Banking and House Financial Services committees announced a bicameral agreement on the bill.
Senate Majority Leader John Thune (R-SD) said the chamber would begin its first procedural vote on the updated bill that same day, with a full Senate vote possible before the end of the week.
House Republican leaders plan to bring the bill to an expedited vote when the chamber returns from recess on June 23, according to two people familiar with the legislative plans.
The deal was brokered by Senate Banking Committee Chair Tim Scott (R-SC), Ranking Member Warren, House Financial Services Committee Chair French Hill (R-AR), and Ranking Member Maxine Waters (D-CA).
"This bill is the result of years of work to lower costs, expand housing supply, cut red tape, protect taxpayers, and help more Americans achieve the dream of homeownership," Scott said in a statement.
A deal struck on contested terms
To earn House support, the Senate accepted a three-year sunset on the Community Development Block Grant – Disaster Recovery (CDBG-DR) program, scaled back from its proposed seven years, and added nine community banking bills to the package.
Hill said the changes brought him on board: "I appreciate the Senate including a three-year sunset on the CDBG-DR program and adopting key House priorities including nine community banking bills and the House's language limiting institutional investors from outcompeting American families in the housing market."
Read more: Investor ban bill moves to Senate floor despite House pushback
The bill caps large institutional investors — defined as entities with investment control over 350 or more single-family homes — from purchasing additional properties.
Investors may still build homes for rent, but the updated text drops the Senate's original mandatory seven-year resale requirement.
The White House backed the legislation, and Treasury Secretary Scott Bessent has repeatedly confirmed that a central bank digital currency (CBDC) is off the table, language that is now codified in the bill, which bars the Federal Reserve from issuing a CBDC through December 31, 2030.
Waters confirmed the final text contains more than 50 housing and banking provisions Democrats secured.
What it means for brokers
Industry groups greeted the agreement. Bill Owens, chairman of the National Association of Home Builders (NAHB) and a builder from Worthington, Ohio, called it "landmark legislation" that would "expand housing opportunities for buyers and renters, strengthen homeownership, and help tackle the affordability challenges facing communities nationwide."
Owens urged Congress to "move this historic housing package across the finish line."
Sarah Brundage, president and CEO of the National Association of Affordable Housing Lenders (NAAHL), called it "a landmark moment for affordable housing in America," adding that the agreement was "the result of years of advocacy, negotiation, and genuine cross-aisle commitment."
The mortgage brokerage industry has closely followed the bill's progress on institutional investor restrictions and their implications for housing supply.
Read more: NAMB pleased with House passage of housing bill as focus turns to Senate approval
Kimber White, president of the National Association of Mortgage Brokers (NAMB), told Mortgage Professional America when the legislation first advanced that curbing institutional buying was "a good first step" that "addresses our housing supply challenges."
Both chambers previously passed their own versions by wide margins — the Senate 89-10 in March 2026 and the House 396-13 in May 2026, per congressional records. As housing affordability conditions show early signs of improvement heading into 2026, the legislation now heads to final votes on both floors.
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