NEWS: Senator Blunt Rochester Celebrates Passage of Historic ROAD to Housing Bill

ROAD to Housing is the first comprehensive housing package passed in Congress in decades. The package includes two of Senator Blunt Rochester's bills

Washington, DC - U.S. Senator Lisa Blunt Rochester (D-Del.), a member of the Senate Banking, Housing, and Urban Affairs Committee, today released a statement celebrating the passage of the 21^st Century ROAD to Housing Act. The bill passed with a vote of 89-10 and included two of Senator Blunt Rochester's bills: the Accelerating Home Building Act and the Community Investment and Prosperity Act. This comes just months after the Senator introduced her comprehensive housing agenda.

"This package is a monumental first step toward addressing America's housing crisis. As soon as I arrived in the United States Senate and joined the Banking Committee, I began working with my colleagues to find common ground on solutions. There is widespread agreement in Congress that we need to find innovative ways to meet our constituents' demands for more affordable housing. This legislation provides a pathway towards achieving that goal.

"I'm very proud that two of my bipartisan bills were included in this package. The Accelerating Home Building Act and the Community Investment and Prosperity Act will significantly modernize our zoning laws, streamline housing development, and unlock investment in critical, affordable housing supply.

"Unfortunately, for far too many hard-working American families, the American dream is simply unattainable. The typical age of first-time buyers has climbed to an all-time high of 40 years. This package signals hope for the recent college graduate looking for their first apartment, the young family saving to buy their first home, and the older retiree looking to downsize into an affordable rental unit. The passage of the 21^st Century ROAD to Housing Act will provide greater opportunities to secure safe, affordable housing for people who have lost hope in that possibility."

Summary of the Accelerating Home Building Act

Senator Blunt Rochester introduced the Accelerating Home Building Act alongside Senator Bernie Moreno (R-Ohio). The bill would establish a grant program administered by the Department of Housing and Urban Development to fund the creation of pattern books, with a focus on missing middle and infill construction. To address rising housing costs, communities across the nation are turning to pattern zoning-an innovative approach that streamlines the construction approval process by allowing developers to use pre-reviewed building designs. This process will expedite approvals and implement best practices for new development.

Summary of the Community Investment and Prosperity Act

Senator Blunt Rochester introduced the Community Investment and Prosperity Act alongside Senate Banking Committee Chairman Tim Scott (R-S.C.), Senator Bernie Moreno (R-Ohio), and Senator Andy Kim (D-N.J.). The bill increases the cap on capital investment a bank can make in community development projects, which will unlock billions in capital for affordable housing, small businesses, financial education, and other economic development needs in communities that need it the most.

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Senator Lisa Blunt Rochester represents Delaware in the United States Senate where she serves on the Committees on Banking, Housing, and Urban Affairs; Commerce, Science, and Transportation; Environment and Public Works; and Health, Education, Labor, and Pensions.