PASSED THE SENATE: Major Bipartisan Housing Package Pushed by Senator Hassan That Bans Wall Street Home Purchases

WASHINGTON - U.S. Senator Maggie Hassan (D-NH) successfully helped the U.S. Senate pass by a large bipartisan majority the 21st Century ROAD to Housing Act, a major legislative package pushed by Senator Hassan to reduce the cost of housing by banning Wall Street hedge funds and private equity firms from buying up single-family homes, providing funding and cutting red tape to help build more homes for the middle-class, and making it easier for veterans to buy homes.

"One of the challenges that I hear most about from people across New Hampshire is how difficult it's become for many families to afford to keep a roof over their heads. At the same time, hedge funds and billionaires are buying and holding thousands of single-family homes - driving prices up for hardworking families looking to buy their first home," said Senator Hassan. "This bipartisan bill takes a series of major steps forward to crack down on big corporate investors that buy up housing communities, build more homes that people can afford, and restore the American dream of homeownership. I'm glad to see it pass the Senate, and I look forward to seeing the positive impact it will have on New Hampshire and the country."

Senator Hassan was a strong supporter of the entire package, which has been updated after previously passing through the Senate and now heads back to the House before heading to the President's desk. The package includes a number of Hassan-backed housing bills, including:

• The Housing Supply Expansion Act, which makes manufactured homes more affordable for families

• The PRICE Act, which provides funding to manufactured housing communities for important infrastructure upgrades and weatherization

• The VA Home Loan Awareness Act, which helps veterans learn about the VA home loan benefits that may be available to them when buying a home

• The Streamlining Rural Housing Act, which cuts red tape and unnecessary barriers that often delay new construction and drive housing costs even higher

Senator Hassan has worked to address affordability and availability of housing in New Hampshire, including by pushing to successfully restore a tax cut for middle-class homebuyers with mortgage insurance and expand the Low-Income Housing Tax Credit to help increase access to housing that families can more easily afford.

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