Rep. Juan Vargas Applauds Passage of Major Bipartisan Housing Bill

WASHINGTON - Today, U.S. Representative Juan Vargas (D-CA-52) applauded the House passage of the 21st Century ROAD to Housing Act, which includes one of his bills to allow credit unions more flexibility. The 21st Century ROAD to Housing Act is a bipartisan package aimed at increasing the nation's housing supply and improving housing affordability, among other priorities. The bill now moves to the President's desk to be signed into law.

As a senior member of the House Committee on Financial Services, Rep. Vargas helped pass this package and fought to include his bipartisan legislation to update the current requirements for federal credit union board meetings.

"Today, we took a major step forward in tackling our nation's housing crisis. This legislation will help us boost our housing supply, expand homeownership opportunities, and lower costs," said Rep. Juan Vargas. "We can build a future where everyone can access housing. This bill represents meaningful progress, but the fight to make sure safe, affordable housing is within reach for families continues. We won't let up."

The 21st Century ROAD to Housing Act includes provisions to:

• Reduce unnecessary barriers to housing development and increase housing supply
• Expand financing for housing and community investment
• Support the development of innovative housing like modular homes and accessory dwelling units
• Provide new protections for renters
• Improve programs to end homelessness
• Codify the disaster recovery program to help expedite funds to communities rebuilding after disaster
  

This package includes Rep. Vargas's bipartisan Credit Union Board Modernization Act, legislation to update the current requirements for federal credit union board meetings. This bill will allow federal credit union boards in good standing to meet every other month instead of monthly, allowing them to focus their resources on serving consumers, small businesses, and supporting economic activity at the local level.

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