Reed & Amo Visit RI Builders Assoc. to Celebrate Housing Affordability Reform Law

CENTRAL FALLS, RI - Today, U.S. Senator Jack Reed and Congressman Gabe Amo visited the Rhode Island Builders Association for a tour of its Residential Construction Training Facility and to celebrate passage of the 21^st Century ROAD to Housing Act (P.L. 119-101).

This law is the biggest housing package passed in decades, containing over 40 provisions to increase housing supply, lower housing costs, reduce barriers to construction, and unlock homeownership for more hardworking families.

"President Trump's policies are making life unaffordable for many Americans who are getting squeezed by the high costs of homeownership and rent. The 21^st Century ROAD to Housing Act is a smart, overdue step toward lowering housing costs. It meets the scale of the housing crisis with urgency and takes critical steps to boost housing supply and reward communities that prioritize housing affordability best practices. This law is not a one-size-fits-all policy, nor should it be, because Rhode Island's needs are different than Iowa's, which are different from New York City's needs. This law provides tools and incentives to help states and communities of all sizes tackle their respective housing challenges and enact smart housing policies while modernizing essential programs," said Reed, a member of the Senate Banking, Housing, and Urban Affairs Committee, who helped craft key portions of the landmark bipartisan housing legislation.

The 'ROAD Act' became law on July 11, 2026 - without President Trump's signature - following passage and repassage from both the U.S. House of Representatives and U.S. Senate. President Trump allowed the measure to become law without his signature in protest of Congress' failure to adopt his voter suppression ploy known as the so-called 'SAVE Act.'

During today's event, Senator Reed outlined several key benefits of the new housing law for Rhode Island and discussed the next steps of implementation and how it can advance housing opportunities locally. Reed noted key benefits for Rhode Island include streamlining federal regulations; increasing flexibility in federal grant programs such as CDBG and HOME that are allocated directly to local governments; and new benefits and support for communities working to ease their zoning and permitting rules.

Given the fact that Rhode Island features some of the oldest housing infrastructure in the country, Reed noted the bill also contains provisions to help families struggling with rising home-maintenance costs.

"President Trump's tariffs have increased housing construction costs. Reversing them is one needed step. The ROAD Act also includes several bipartisan provisions I supported to expand housing supply, modernize the housing finance system, make homeownership more attainable, and limit the corporate buy-up of single-family units," noted Reed, who had two of his bipartisan bills included in the law: the Property Improvement and Manufactured Housing Loan Modernization Act (S.964) that he wrote with Sen. Cynthia Lummis (R-WY) and the Helping More Families Save Act (S.970) that he led with Sen. Katie Britt (R-AL).

The ROAD Act also includes language Reed has long championed that kicks Wall Street out of the single-family home market - ensuring single-family homes are bought by families and local landlords, not deep-pocketed investors.

According to the National Association of Realtors' (NAR) latest monthly report on home sales, due in large part to a dearth of housing supply, the median sales price of existing homes in the U.S. grew to $440,600, a record high. In Rhode Island, the median sale price is $550,000.

The 21st Century ROAD to Housing Act would advance market-driven, local solutions to promote affordability by:

• Providing technical assistance and competitive grants to help communities streamline zoning and permitting and build more housing;
• Preventing Wall Street investors from buying up single-family homes that could go to families instead;
• Creating an innovation fund for communities increasing housing supply;
• Helping families living in federally-assisted housing build more savings and achieve greater economic independence;
• Supporting housing opportunities for veterans, among other things;
• Updating HUD's HOME Investment Partnership Program, which hasn't been reauthorized since 1992.

"The ROAD Act offers a 'build more, preserve more, help people save more' housing affordability blueprint. But it still requires a lot of work by communities to develop effective residential development strategies and housing solutions that meet their local needs. Here in the Ocean State, we must build more homes and apartments at price points Rhode Islanders can afford. This new law will help, but we must also continue to take a multi-faceted approach," said Reed.

Over the past six years, Senator Reed has helped direct over $3.2 billion in federal funding to Rhode Island to address housing, including three key programs Reed helped create: the Housing Trust Fund, Capital Magnet Fund, and the State and Local Fiscal Recovery Fund, which the state used to pour $330 million into housing and homelessness programs.

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