ICYMI: Chairman Scott Highlights Bipartisan Momentum Behind the 21st Century ROAD to Housing Act on CNBC's Squawk Box

Washington, D.C. - Today, Senator Tim Scott (R-S.C.), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, joined CNBC's Squawk Box to discuss the bipartisan 21st Century ROAD to Housing Act, legislation aimed at lowering housing costs by expanding supply, cutting red tape, and empowering local communities to build more homes. Chairman Scott highlighted the broad coalition supporting the bill and explained how the legislation reflects priorities from both the House and Senate. The Senate recently invoked cloture on the bill - with 89 votes in favor - underscoring the strong bipartisan momentum behind efforts to address housing affordability. The 21st Century ROAD to Housing Act now moves one step closer to final passage on the Senate floor.

Click here or on the image above to watch the full interview.

On addressing the housing affordability crisis:

"My mother became a first-time homeowner at 38. Today, that age is about 40 years old. We all see the pain the average person is going through in this country and solving that problem requires us to build a bipartisan coalition."

On how the 21^st Century ROAD to Housing Act lowers costs and increases supply:

"We solve problems by cutting red tape. We solve problems by focusing on local jurisdictions and giving them more incentives to produce more housing and make it more affordable."

On bipartisan cooperation behind the legislation:

"When President Trump and Elizabeth Warren and Senate Republicans can all come to the same place on a housing bill, it shows that if you put partisan politics aside and focus on the issues impacting the American people, you can get results."

On incorporating House priorities into the Senate bill:

"The House passed their bill. They had about 25 provisions in their legislation, and we've taken 20 of those provisions and embedded them in the 21st Century ROAD bill."

On restoring the American Dream of homeownership:

"Every member of the Banking Committee had an opportunity to invest their time, their energy, and their priorities into this legislation, making it a bipartisan win - but more importantly, a win for the American people who want to experience their version of the American Dream."

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