The White House on Tuesday endorsed the House’s amended housing package after lawmakers agreed to mirror a Senate bill that bans private equity ownership of single-family homes.
“The White House supports the House’s housing bill thanks to the changes that were made,” an administration official told NOTUS in a statement.
The House’s amended package is set for a vote Wednesday.
The White House originally pushed the Senate version of the housing package aimed at boosting construction and affordability in the housing sector.
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The House version now includes an investor ban provision akin to the Senate-passed limit on private equity’s ownership of single-family homes — a key agenda item for President Donald Trump. But the new House bill still doesn’t match the Senate’s language requiring large investors to sell long-term rental properties to individual homebuyers within seven years of construction.
The latest changes came minutes after NOTUS reported labor unions had raised concerns to House Minority Leader Hakeem Jeffries about lax protections for construction workers included in the package.
Rep. French Hill, an Arkansas Republican who chairs the House Financial Services Committee, told NOTUS last week that amending the Senate package, which passed the upper chamber in March, was necessary to secure a “bicameral, bipartisan housing bill that President Trump can sign into law.”
“It was essential that we take this step in the House to find consensus,” Hill said of working on changes to the bill last week.
The House’s amended version, first released March 13, also restores the deregulation of community banks and a temporary ban on central bank digital currency from being issued – both of which are key items for conservative lawmakers in the House that had not been included in the Senate version.
“Together, these changes strengthen our joint, bicameral focus on expanding housing access and affordability without discouraging investment in new housing development,” Hill said on the House floor Tuesday.
CORRECTION: An earlier version of this story mischaracterized the proposed ban on central bank digital currency. It would be a temporary ban.
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