Moreno Applauds Senate Passage of Landmark Housing Affordability Bill

WASHINGTON - Today, Senator Bernie Moreno (R-Ohio) applauded the Senate passage of the 21^st Century ROAD to Housing Act to make the American Dream of homeownership more affordable and attainable for hardworking families.

"Homeownership is the cornerstone of the American Dream, but decades of failed leadership in Washington have given that dream away to Wall Street landlords over the American people," said Senator Moreno. "I commend Chairman Tim Scott for getting this critical bipartisan bill across the finish line to put housing back in the hands of American families, not corporate slumlords."

Senator Moreno's Priorities in the 21^st Century ROAD to Housing Act:

• Homes Are for People not Corporations: Senator Moreno led the charge with Senator Raphael Warnock (D-Ga.) to codify President Trump's executive order banning Wall Street firms and private equity giants from purchasing single-family homes and driving up costs for everyday Americans.
• Community Investment and Prosperity Act: This bill led by Senator Moreno and Senator Lisa Blunt-Rochester (D-Del.) enhances banks' capacity to make private investments in affordable housing, unlocking billions in additional private capital without increasing taxpayer spending.
• Accelerating Home Building Act: To help communities establish pre-approved housing designs, this bill led by Senator Moreno, Senator Andy Kim (D-N.J.), and Senator Lisa Blunt-Rochester (D-Del.) streamlines and expediates local construction processes to build more homes.
• VA Home Loan Awareness Act: This bill veterans and their families to take advantage of the VA Home Loan that does not require a down payment, private mortgage insurance, and lower interest rates.

Key Wins for Hardworking Ohioans:

• Federal Housing Association Small-Dollar Mortgages: authorizes that U.S Department of Housing and Urban Development (HUD) to help families purchase lower-priced homes by making small mortgage loans available and accessible for lenders and borrowers.
• BUILD Housing Act: By cutting environmental reviews and empowering state, local, and tribal governments.
• HOME Investment Partnerships and Reform Act: Reauthorizes and modernizes the HOME Investment Partnerships Program, HUD's largest and most flexible grants dedicated to creating and preserving affordable housing for low-and-moderate-income families. It also accelerates affordable housing production by making it more efficient for communities to build new units, rehabilitate existing homes, and help first-time homebuyers, increasing housing supply without new bureaucracy.
• Housing Unhoused Disabled Veterans Act: Excludes disability benefits from HUD's annual income calculation so disabled veterans are not disqualified from accessing these vital services.

Read Senator Moreno's op-ed, "The American Dream Under Siege," HERE. Watch Senator Moreno's floor speech on President Trump's plan to ban Institutional Investors from purchasing single-family homes HERE.