Ranking Member Tim Scott (R-S.C.) introduced the ROAD to Housing Act today, a comprehensive legislative effort aimed at reversing decades of housing policies and making targeted reforms across the U.S. housing market. This initiative follows extensive negotiations with stakeholders and feedback from multiple committee hearings.

Republicans on the Senate Banking Committee, including Senators Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Katie Britt (R-Ala.), Kevin Cramer (R-N.D.), and Steve Daines (R-Mont.), have joined Ranking Member Scott in this legislative endeavor.

“I’m the son of a single mother – growing up, we lived with family until we were able to rent a small place of our own. I know firsthand the importance of access to quality, affordable housing. Unfortunately, Democrats’ solution for years has been to spend trillions on programs that have yielded little results, especially for minorities as homeownership rates for African Americans have barely changed in over 50 years,” said Ranking Member Scott. “Costs to buy a home and to rent continue to increase, and homelessness is at record levels. It’s past time for Congress to take serious action to reverse decades of failed housing policies and put all Americans on the road to housing.”

“Homes are the foundation for economic success, family stability and community cohesiveness. Unfortunately, lack of affordable housing is routinely the number one concern I hear from Idahoans in my meetings throughout the state. We must reform inefficient segments of U.S. housing availability across all markets to make the American dream of homeownership attainable for as many Americans as possible,” said Senator Crapo.

“Finding housing that is affordable remains a challenge for homebuyers and renters across the country. In South Dakota, median home prices continue to rise and with high interest rates needed to fight inflation, achieving the American dream of homeownership is extremely difficult. In order to bring prices down and get more Americans into homes, we must start cutting red tape, removing barriers to opportunity and prioritizing accountability of Federal bureaucrats. The ROAD to Housing Act will help accomplish that,” said Senator Rounds.

“Under the Biden-Harris Administration, reckless spending and excessive regulations have driven housing affordability to its lowest in decades, devastating American families in the process,” said Senator Hagerty. “As opposed to the Harris proposal to stimulate demand for housing, this legislation marks a first step toward curbing government overreach and expanding the housing supply.”

“Many people in Wyoming struggle to find affordable housing, and it is past time for Congress to address the housing shortage in a fiscally responsible way,” said Senator Lummis. “That includes eliminating red tape and holding agencies responsible while making room for innovation. I am joining my friend and colleague Senator Tim Scott in introducing the ROAD to Housing Act to cut red tape which will increase the housing supply.”

“There is no doubt our nation faces an affordable housing crisis, and for many hardworking individuals and families, the American Dream of home ownership is completely out of reach. The ROAD to Housing Act is a comprehensive solution that would take a targeted approach to remove unnecessary red tape to lower the cost of housing while expanding access to important resources like housing counseling and financial literacy programs," said Senator Britt.

“Over four years ago," said Senator Cramer "housing has become unaffordable for families across North Dakota leaving many struggling.” He added: “It’s time prioritize solutions over rhetoric help communities throughout nation so joined introducing provide targeted solutions renters homeowners homeless.”

Senator Daines commented: “Our ROAD Housing Act provide much-needed relief across market when Montanans struggling under administration’s record inflation high interest rates." He continued: "This step right direction help Montana families find safe affordable places live work raise family."

The key pillars outlined by Ranking Member Scott include:

1) Safety & Soundness: Ensuring reliable access through responsibly regulated federal programs.

2) Encouraging Competition & Innovation: Promoting local solutions without one-size-fits-all mandates.

3) Providing Housing Opportunity & Combating Homelessness: Incentivizing success by rewarding effective service providers.

4) Holding Agencies Accountable & Reducing Regulatory Burdens: Reviewing how overregulation impacts costs while improving oversight mechanisms.

For detailed information about each section or bill text links are provided at official channels.