WASHINGTON, D.C. — The U.S. Senate Banking Committee unanimously approved the bipartisan ROAD to Housing Act on Tuesday, marking a significant step toward addressing the nation’s deepening housing affordability crisis. Senator Dave McCormick (R-PA), a vocal supporter of the legislation, highlighted the bill’s potential to expand housing access, stabilize communities, and improve agency coordination.
McCormick described the current state of housing as untenable, citing his recent visit to Pittsburgh with Secretary Scott Turner to assess local development efforts. “This is key to the American Dream, and it’s a challenge for Americans across our communities,” McCormick said. “This package recognizes and starts with the premise that the status quo is unacceptable.”
The ROAD to Housing Act includes a series of targeted reforms, many of which reflect McCormick’s own legislative efforts. These measures aim to streamline federal housing programs, modernize financial tools, and increase the supply of affordable homes—particularly in high-cost and underserved areas.
Key provisions of the bill include:
- HUD-USDA-VA Interagency Coordination Act – Requires federal housing agencies to share data and jointly report on collaboration opportunities and barriers to affordable housing development.
- Housing Affordability Act – Mandates the Federal Housing Administration (FHA) to reassess multifamily loan limits and grants rulemaking authority to HUD to adjust those limits in response to market trends.
- Housing Unhoused Disabled Veterans Act – Ensures veterans’ disability compensation is excluded from income calculations under the HUD-VASH program, easing housing access for homeless veterans.
- Whole-Home Repairs Act – Launches a five-year HUD pilot to fund repairs for low-income homeowners and small landlords through grants and forgivable loans, aimed at preserving aging housing stock without expanding long-term federal obligations.
- Community Investment and Prosperity Act – Increases the Public Welfare Investment cap for nationally chartered banks from 15% to 20%, giving banks greater leeway to support affordable housing initiatives.
McCormick emphasized the bill’s bipartisan nature and its forward-looking approach. “From double-digit increases in home prices to skyrocketing rents, we need innovative solutions—and that’s exactly what this legislation provides,” he said.
With unanimous committee approval, the legislation now moves to the full Senate for consideration, signaling broad momentum behind efforts to confront one of America’s most pressing economic challenges.
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