President Donald Trump has a potential housing victory gift-wrapped for him in Congress — but the White House is focused elsewhere.
The Senate overwhelmingly passed the bipartisan 21st Century ROAD to Housing Act on Thursday. The legislation aims to ease the nation’s housing shortage and lower costs — issues that top the list of voter concerns. It also includes one of Trump’s priorities: a permanent ban on institutional investors buying single-family homes.
Yet Trump has said little publicly about the bill. The silence isn’t escaping notice, especially as lawmakers say Trump’s engagement is vital for the bill to get through the House, where there is opposition from hard-line conservatives.
“This is a major bipartisan victory for the president. He called for this in the State of the Union. He’s worked closely with [Sen. Tim Scott (R-SC)],” said Senate Majority Whip John Barrasso (R-WY). “And I’m hoping he does weigh in with the House members to get this accomplished so he can sign it quickly.”
While Trump hasn’t spoken about the bill publicly, his alleged disinterest was reported by Punchbowl News on Thursday. According to the outlet, Trump reportedly told House Speaker Mike Johnson (R-LA) that “no one gives a [bleep] about housing” in a private conversation on the topic this week. The White House denies the comment.
“This is not accurate whatsoever. The truth is that President Trump has been laser-focused on making housing more affordable,” White House spokesman Davis Ingle told the Washington Examiner. “The President signed an Executive Order prohibiting large Wall Street firms from purchasing single-family homes, directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds that helped drive rates to four-year lows, and cut unnecessary red tape at a historic pace to boost supply, speed construction, and lower costs.”
Still, Trump’s focus appears to be firmly on the Safeguarding American Voter Eligibility Act and the Iran war. This week, during a visit to a package facility in Hebron, Kentucky, the president made sure to mention his desire that longtime foe Rep. Thomas Massie (R-KY) vote for the SAVE Act.
“It’ll be interesting to see what he does with the SAVE America Act,” Trump mused while speaking in Massie’s district on Wednesday. “He has to vote for it, but he’s a nut job. So you never know.”
One day laterm Trump again plugged the SAVE Act during a Thursday afternoon event commemorating Women’s History Month.
“I’m scared that we’re going to lose the midterm because we’re not keeping our eye on the ball six months out from the midterms,” said Angie Wong, a Miami GOP committeewoman, warning about Trump’s penchant for distraction. “And you know, if we don’t get things coordinated and situated properly. Now we’re not going to win the midterms.”
The SAVE America Act is expected to die in the Senate next week because Democratic opposition won’t allow it to overcome the chamber’s 60-vote filibuster threshold. The housing bill, in comparison, cleared the Senate on Thursday by a vote of 89-10.
Despite the overwhelming vote, the bill faces resistance in the House. Freedom Caucus members have criticized the legislation for including a permanent ban on institutional investors buying single-family homes and for including a temporary ban on the Federal Reserve’s digital currency.
Senate Majority Leader John Thune (R-SD) told the Washington Examiner that the president’s involvement could push the House into action.
“If the White House wants the House to pick up the bill and pass it, they’ll probably have to make that argument to House leadership when the bill passes the Senate,” Thune said ahead of the vote.
Affordability is a top issue this midterm cycle as the GOP is defending its control of the House and Senate.
Housing costs have soared in comparison to household income. According to RedFin, homebuyers now need to earn $111,000 annually to afford the median-priced home, which is 46.3% more than the $76,020 needed to afford the typical rental.
MAJOR HOUSING BILL CLEARS SENATE AND NOW FACES CONFLICT WITHIN HOUSE GOP
Passage of the housing bill would give Republicans another economic achievement to campaign on ahead of the midterm elections — provided the House comes along.
“If people feel economically insecure, even well-intentioned legislation can look like a distraction. That is why focusing on growth, wages, and cost of living first is not just good policy—it is good governance,” Chad Hagan, board member of Americans for Fair Taxation, told the Washington Examiner.