With Senator Collins’ Support, Senate Passes Bill to Make Housing More Affordable

Senator Collins and 84 of her Senate colleagues back the 21st Century ROAD to Housing Act, which aims to increase the supply of housing nationwide and lower costs for American families.

WASHINGTON, D.C. - Today, U.S. Senator Susan Collins supported Senate passage of the 21st Century Renewing Opportunity in the American Dream (ROAD) to Housing Act, which passed the Senate by a bipartisan vote of 85 to 5. The bill now heads to the House, where it is expected to receive strong support before moving to the President's desk to be signed into law.

This bipartisan, bicameral legislation, which was introduced by Senators Tim Scott (R-SC) and Elizabeth Warren (D-MA) in the Senate and by Representatives French Hill (R-AR-02) and Maxine Waters (D-CA-43) in the House, is the most significant federal housing package advanced by Congress in three decades and will help address the national housing shortage driving up costs for renters and homebuyers alike.

Last year, the median price of a home in Maine reached $407,000, the highest level on record. Additionally, nearly half of all renters in Maine spent 30 percent or more of their income on housing in 2024. With home prices and housing cost burdens reaching record levels, many Mainers, especially younger Mainers, see the dream of owning their own home as further away than ever before.

"To lower housing costs, we must address the root cause of the crisis: the severe shortage of homes available to rent or buy," said Senator Collins. "The 21st Century ROAD to Housing Act will help communities expand housing supply in Maine and across the country by cutting unnecessary red tape, restricting large institutional investors from cornering regional markets for single-family homes, while preserving local decision-making. This bipartisan legislation will give Maine communities more tools to create affordable housing options for families, seniors, and workers without imposing burdensome federal mandates."

Key provisions of the 21st Century ROAD to Housing Act include:

• Directing the Department of Housing and Urban Development (HUD) to develop best practices for zoning and land-use policies without imposing federal mandates on state or local governments;
• Streamlining regulatory reviews for certain small and infill housing projects, helping communities build more homes faster;
• Modernizing federal manufactured and modular housing policies, making it easier to use these low-cost housing models in Maine and across the country;
• Strengthening the role of credit unions and local banks that help families, home builders, and small businesses access capital for housing;
• Creating the Revitalizing Empty Structures Into Desirable Environments (RESIDE) pilot program at HUD to help turn abandoned or underused properties into affordable housing;
• Limiting the ability of large institutional investors to outbid families and purchase single-family homes in bulk; and
• Prohibiting the Federal Reserve from establishing Central Bank Digital Currency (CBDC) through 2030.

Click here to read the complete text of the legislation.

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