Trending Now - Bipartisan Housing Initiative Progresses Amid Trump Plan Dispute

WHO:

Rep. Josh Riley, D-N.Y.

Pat Harrigan, R-N.C.

Sen. Tim Scott, R-S.C., chair of the Senate Banking, Housing and Urban Affairs Committee

Sen. Elizabeth Warren, D-Mass., top Democrat on the Senate Banking Committee

Sen. Brian Schatz, D-Hawaii

President Donald Trump

Senate Minority Leader Chuck Schumer, D-N.Y.

Several members of the housing and rental industry

WHAT:

The Senate moved closer to advancing a housing package aimed at boosting affordability.

The Housing for the 21st Century Act passed the House in February 2026 by a 390-9 bipartisan vote.

The legislation includes over 40 bipartisan policies meant to lower the cost of housing.

A provision banning institutional investors from buying single-family homes is a contentious point in the bill.

The bill requires companies owning more than 350 units to divest within seven years.

The Senate bill is expected to be approved on March 13th, 2026.

WHERE:

Washington, D.C.

Trump National Doral Miami, Doral, Florida

WHEN:

The Senate advanced the bill on March 9th, 2026.

The House passed the Housing for the 21st Century Act in February 2026.

The final vote in the Senate is expected on March 13th, 2026.

WHY:

The legislation aims to help first-time homebuyers and lower-income Americans access affordable housing.

Trump stated, "We want homes for people, not for corporations," during his State of the Union address.

HOW:

The bill was modified in the Senate by Sen. Scott and Sen. Warren to include the institutional investor ban.

The legislation defines large institutional investors as for-profit organizations owning more than 350 single-family homes.

(UPDATED March 12, 2026 05:24 UTC)

The Senate has moved closer to advancing a housing package aimed at boosting affordability, with the Housing for the 21st Century Act having passed the House last month by a strong bipartisan vote of 390 to 9. This legislation includes over 40 policies designed to lower housing costs, though a contentious provision banning institutional investors from buying single-family homes has sparked debate among lawmakers. The final vote in the Senate is expected tomorrow, March 13, with President Trump emphasizing the need for homes for people, not corporations, during his recent State of the Union address.