Housing Bill Becomes Law Without Trump's Signature, Restricts Investor Home Purchases

WASHINGTON, A sweeping bipartisan housing bill became federal law last week without President Donald Trump's signature, ending a months-long legislative standoff and delivering the most significant federal intervention in housing supply in roughly three decades.

The 21st Century ROAD to Housing Act, H.R. 6644, took effect at midnight on July 11 after the constitutional 10-day window elapsed with no action from the White House. According to GovTrack.us, which tracks congressional actions, the bill became enacted on July 11, 2026 after ten days elapsed following its presentation to the president.

Trump had canceled a signing ceremony days after Congress passed the bill, according to a timeline published by the National Low Income Housing Coalition. He did not veto it either, allowing it to pass into law by default.

The final votes were lopsided in both chambers. According to the Bipartisan Policy Center, the Senate passed the bill 85 to 5 on June 22, and the House cleared it 358 to 32 the following day.

The legislation pulls together two competing bills that had moved separately through the House and Senate and combines them with a provision the Trump administration had pushed for: restrictions on large institutional investors purchasing single-family homes. According to an issue brief reviewed by the Bipartisan Policy Center, the two chambers reached agreement on a comprehensive bipartisan housing package after months of negotiations.

The National Low Income Housing Coalition called it "the first major bipartisan housing package to become law since the 1990s" in a summary published on its website after the bill took effect.

The law covers several fronts. According to Congress.gov, the bill revises federal housing programs by expanding available financing for affordable housing and providing grants for planning and community development activities. It increases the statutory maximum loan limits for mortgage insurance programs administered by the Federal Housing Administration for multifamily homes. It also raises the maximum eligible income threshold for HUD's HOME Investment Partnerships Program, which funds grants to states and localities for low-income housing.

A separate title of the final law streamlines environmental reviews under the National Environmental Policy Act, expands categorical exclusions for housing projects, creates competitive grants for zoning and planning updates, and authorizes HUD to delegate certain reviews to states and localities, according to a Wikipedia summary of the statute's provisions.

The investor-purchase restriction was a late addition. According to Cherry Bekaert's July 2026 tax policy review, the final agreement includes restrictions on additional single-family home purchases by large institutional investors, representing a notable federal restriction on investment activity in a specific asset class.

That provision had generated friction during House-Senate negotiations. According to a Wikipedia account of the legislative history, some House Republicans objected to language prohibiting the establishment of a central bank digital currency and to the investor-restriction provisions, arguing the Senate had diluted them. The final bill also bars the Federal Reserve from establishing a central bank digital currency for four years.

The House Committee on Financial Services, whose members helped shape the House version of the bill, described the legislation in a statement as one that "reduces unnecessary barriers to building, strengthens community banks, and ensures families, not institutional investors, have a fair shot at buying a home."

Implementation now falls to HUD and other federal agencies. Several provisions don't take effect until October 1, 2026, per the bill text reviewed by GovTrack.us. A pilot program for small-dollar FHA mortgages must be established within one year of enactment.

Sources cited:
- GovTrack.us, H.R. 6644 bill tracking (https://www.govtrack.us/congress/bills/119/hr6644)
- National Low Income Housing Coalition, ROAD Act becomes law (https://nlihc.org/resource/21st-century-road-housing-act-becomes-law-new-nlihc-resource-available)
- Bipartisan Policy Center, Inside the Deal: What's in the Final 21st Century ROAD to Housing Act (https://bipartisanpolicy.org/issue-brief/inside-the-deal-whats-in-the-final-21st-century-road-to-housing-act/)
- Congress.gov, H.R. 6644 summary (https://www.congress.gov/bill/119th-congress/house-bill/6644)
- Cherry Bekaert, Tax Policy Review: Key July 2026 Updates (https://www.cbh.com/insights/newsletters/tax-policy-review-key-july-2026-updates/)
- Wikipedia, 21st Century ROAD to Housing Act (https://en.wikipedia.org/wiki/21st_Century_ROAD_to_Housing_Act)
- House Committee on Financial Services, 21st Century ROAD to Housing Act Becomes Law (https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=411189)
- National Low Income Housing Coalition, ROAD Act signing deadline (https://nlihc.org/resource/21st-century-road-housing-act-could-become-law-midnight-july-11)