Historic Housing Package Championed by Congressman Andy Barr Sails Through Congress

WASHINGTON, D.C.- Today, the 21st Century ROAD to Housing Act passed with overwhelming support in the U.S. House of Representatives. Congressman Andy Barr (R-KY-06), a senior member on the House Financial Services Committee, helped draft the legislation that will cut red-tape to speed up home building and expand access to credit for community banks that power main street and rural communities.

"We need more homes to lower the cost of housing and make the American Dream more affordable for Kentuckians all across the Commonwealth," said Congressman Barr. "I'm proud to help lead the bipartisan 21st Century Housing Act to President Trump's desk because it slashes big government regulations to accelerate homebuilding and gives our community banks the flexibility they need to make the goal of homeownership more attainable for the next generation of Kentuckians."

The House amendment offers practical, results-driven solutions that will increase housing availability, lower costs, and strengthen communities nationwide. It focuses on these main provisions:

• Delivering on Trump's Agenda by limiting institutional investors' from competing against the American people looking to buy a home.
• Removing unnecessary regulatory barriers through streamlining housing development and affordability.
• Modernizing HUD programs in updating rules for manufactured homes, revamping the HOME Program, and exempting small-scale housing developments from burdensome federal reviews.
• Enhancing community banking operations through cutting red tape, expanding access to community and rural banks, and supporting new banks.
• Prohibiting the creation of a Central Bank Digital Currency to protect Americans' personal privacy.

###