One of the most significant housing reform efforts in decades reached another major milestone on Monday as the bipartisan 21st Century ROAD to Housing Act (H.R. 6644) was officially transmitted to President Donald Trump, moving the legislation one step closer to becoming law.

The bill had briefly been thrown into uncertainty last week after President Trump unexpectedly canceled a planned White House signing ceremony, saying he wanted Congress to first advance the SAVE America Act, a separate election reform proposal that has become one of his top legislative priorities.

Despite that delay, congressional leaders confirmed Monday that the housing legislation would move forward.

House Speaker Mike Johnson (R-La.) announced that the bill was being sent to the White House, emphasizing that Congress had already completed its work by passing the measure with overwhelming bipartisan support.

"It's passed by both chambers. I'm sending it to him on Monday, and it will become law," Johnson said during a weekend interview ahead of today's formal transmission.

The development represents a significant victory for lawmakers who have spent months negotiating what many housing experts describe as the most comprehensive federal housing package in more than 30 years.

A Rare Bipartisan Achievement

The legislation received overwhelming bipartisan support in Congress, passing the Senate by an 85-5 vote before clearing the House of Representatives by a vote of 358-32.

The bill was crafted through months of negotiations led by House Financial Services Committee Chairman French Hill (R-Ark.), Ranking Member Maxine Waters (D-Calif.), Senate Banking Committee Chairman Tim Scott (R-S.C.), and Ranking Member Elizabeth Warren (D-Mass.), bringing together dozens of bipartisan housing proposals into one comprehensive package.

The legislation is officially known as the 21st Century ROAD to Housing Act, with "ROAD" standing for Renewing Opportunity in the American Dream.

Its primary objective is straightforward: increase America's housing supply while reducing many of the regulatory and financial barriers that have contributed to today's affordability crisis.

Why Congress Believes the Bill Is Necessary

The legislation arrives as the United States continues facing one of the most challenging housing markets in decades.

Mortgage rates remain around 6.5%, home prices remain historically elevated, and economists estimate the country remains short of well over one million homes after years of underbuilding following the 2008 financial crisis.

Builders have also struggled with higher construction costs, labor shortages, rising insurance premiums, and lengthy permitting processes that frequently delay projects for months—or even years.

Lawmakers from both parties argue that simply lowering mortgage rates will not solve America's affordability problems.

Instead, they believe the country must build substantially more housing.

The new legislation is designed to address many of those structural issues.

What the Bill Would Do

Rather than relying on a single solution, the legislation tackles housing affordability from several directions.

Among its most significant provisions, the bill would:

• Streamline federal environmental reviews for qualifying housing developments to reduce costly project delays.
• Modernize several federal housing and community development programs.
• Expand financing opportunities for affordable housing developments.
• Improve access to small-dollar mortgages for lower-income buyers.
• Encourage greater use of manufactured housing and accessory dwelling units (ADUs).
• Support local governments working to increase housing production.
• Place new limits on large institutional investors that own 350 or more single-family homes, restricting additional purchases in many cases while preserving certain exemptions for build-to-rent developments.

Supporters believe these reforms could gradually increase housing production while making it easier for builders to deliver homes at more affordable price points.

Wall Street Welcomed the News

Investors reacted enthusiastically after Congress approved the legislation last week.

The PHLX Housing Index surged 5.4%, reaching its highest level since February.

Several of the nation's largest publicly traded homebuilders posted significant gains.

D.R. Horton, Lennar, PulteGroup, NVR, and Toll Brothers all advanced sharply as investors viewed the legislation as a positive long-term development for residential construction.

Analysts said the rally reflected optimism that reducing regulatory burdens could eventually improve profitability while allowing builders to construct more homes.

Although the bill will not immediately lower mortgage rates or home prices, many investors believe it creates a more favorable environment for long-term housing development.

The Political Drama That Delayed the Bill

The legislation's path to the White House has not been entirely smooth.

Just days after Congress overwhelmingly approved the bill, President Trump canceled a scheduled signing ceremony, saying he would delay action until Congress advanced the SAVE America Act, legislation requiring proof of citizenship and photo identification for federal elections.

The decision surprised many lawmakers because the housing bill had broad bipartisan support and had been promoted by both Republicans and Democrats as a meaningful response to the nation's affordability crisis.

Speaker Johnson subsequently met with Trump and Senate Majority Leader John Thune in an effort to resolve the disagreement.

Following those discussions, House leadership announced that the housing legislation would proceed to the White House as originally required under the legislative process.

What Happens Next?

With the bill now officially delivered to the White House, the constitutional process begins.

President Trump has 10 days (excluding Sundays) after receiving the legislation to decide whether to:

• Sign the bill into law.
• Veto the legislation.
• Take no action.

If Congress remains in session and the president neither signs nor vetoes the bill within that period, the legislation automatically becomes law without the president's signature, as provided by the U.S. Constitution.

Because the measure passed Congress with overwhelming bipartisan majorities, housing analysts believe the reforms are likely to move forward even after last week's political dispute.

What It Means for Homebuyers

For prospective buyers, expectations should remain realistic.

The legislation will not immediately lower mortgage rates, reduce monthly payments, or cause home prices to fall.

Instead, its benefits are expected to emerge gradually over several years.

By reducing regulatory delays, expanding financing tools, encouraging local housing production, and removing barriers that have slowed construction, policymakers hope builders will eventually deliver more homes across the country.

Greater supply could help moderate future price growth and improve affordability over the long term.

A Turning Point for Housing Policy

The transmission of the 21st Century ROAD to Housing Act to the White House marks one of the most significant milestones in federal housing policy in decades.

For years, economists have argued that America's affordability crisis cannot be solved through interest-rate policy alone. Expanding the nation's housing supply has become an increasingly urgent priority, and lawmakers from both parties have acknowledged that the shortage has evolved into a long-term structural problem.

Whether the legislation ultimately delivers on its promise will depend on implementation, cooperation between federal, state, and local governments, and broader economic conditions.

But as of Monday, June 29, 2026, the bill has officially left Congress and reached the president's desk.

After years of debate over housing affordability, Washington has taken one of its biggest steps in decades toward addressing the nation's housing shortage.