Fong Votes to Lower Housing Costs

WASHINGTON, D.C. - Today, the House of Representatives passed the 21st Century ROAD to Housing Act, bipartisan legislation to expand housing supply, cut unnecessary regulatory barriers, and restore affordability to the American housing market. Congressman Vince Fong (CA-20) voted in support of the bill.

The legislation aims to address unaffordable housing costs straining working families across the country. California home prices are among the most expensive in the nation, with mid-tier homes averaging approximately $755,000, more than twice the typical mid-tier U.S. home, largely as a result of state-imposed regulations and mandates.

"Hardworking Americans, especially those in the Central Valley, deserve the chance to own a home and build a better future for their families. For years, we have seen too many people priced out of homeownership, with rising costs and burdensome regulations pushing the American Dream out of reach," said Congressman Fong. "Building more houses, cutting red tape, empowering local and rural lenders, and modernizing outdated federal programs is exactly how we lower costs and make housing more affordable. This bipartisan bill delivers real, commonsense solutions for working families, and I was proud to support it."

Specifically, the 21st Century ROAD to Housing Act:

• Removes unnecessary regulatory barriers by allowing the use of pre-approved home designs so builders can get permits faster and build more quickly.
• Streamlines federal and local housing processes.
• Modernizes HUD programs including updating rules for manufactured homes, modernizing the HOME Program, and exempting small-scale developments from burdensome federal environmental reviews.
• Enhances community banking operations by cutting red tape on bank exams, expanding rural and community banks' access to stable deposits, and empowering local lenders to deploy capital in their own communities.
• Delivers on President Trump's agenda by limiting institutional investors from competing against everyday Americans in the housing market.

"Sacramento's regulatory overreach has made California one of the most expensive places in the nation to build or buy a home," Congressman Fong continued. "This bipartisan bill leads where Sacramento has failed. I look forward to seeing it become law so we can help make homeownership attainable again for Central Valley families and Americans across the country."