Federal housing bill could mean cheaper homes in CT. But will President Trump sign it?
The 21st Century ROAD to Housing Act would cut federal red tape for builders and speed up the permitting process for new homes. But President Donald Trump may veto it – unless Congress passes new voting ID restrictions.
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A major federal housing bill could mean cheaper homes in Connecticut.
But will President Donald Trump actually sign it?
HOMES OUT OF REACH
A new home can be out of reach for many families. The median sales price in Connecticut is $447,447, according to Zillow.
That’s 5% higher than a year earlier.
For struggling families, the answer can be “deeply affordable” developments like Oak Grove Apartments in Norwalk. The 69 brand-new rentals are reserved for families making 30-80% of the area median income.
Parents even get free on-site childcare.
“We can work, so it’s more easy for me,” one mother said.
But affordable housing like this is hard to finance and build.
“There’s multiple capital stacks that are involved,” said developer Kevin Hoffman, vice president of The Richman Group. “And it’s a great private-public partnership that has to come together to build affordable housing.”
ROAD TO HOUSING ACT
Projects like Oak Grove could happen faster under the 21st Century ROAD to Housing Act. The sweeping legislation cuts federal regulatory red tape and offers local communities incentives to speed up permits.
"It could speed us up by, A, having more investors in the market, which always helps,” Hoffman said. “It also speeds up because, you know, from start to finish to get to a groundbreaking, will be quicker because it’s less regulations.”
The bill also bans private equity firms from scooping up homes, which forces prices up for everyday homebuyers.
“It sort of follows on what we did here,” said Gov. Ned Lamont. “It would provide additional resources for transit-oriented development. It would allow us to speed up some of the permitting – make life a little bit easier.”
TRUMP ABRUPTLY CANCELS
The ROAD to Housing Act passed 358-32 in the U.S. House and 85-5 in the Senate – a rare show of bipartisanship as Congress tries to bring down the cost of living.
But it might not become law.
Last week, President Trump abruptly canceled a bill signing, demanding that Congress pass an unrelated voting proposal first.
Connecticut’s top elections official has warned of “chaos” at the polls if the Save America Act passes. Voters would have to present a birth certificate or passport to register to vote. A Connecticut driver’s license alone would not count.
“Many people think their Real ID driver’s license would verify their citizenship,” said Secretary of the State Stephanie Thomas. “It does not. It verifies your identity.”
Voters would also have to deliver citizenship documents in-person at their local city or town hall – even if they registered online or at the Department of Motor Vehicles.
WHAT’S NEXT?
House Speaker Mike Johnson (R-La.) sent the housing bill to the president’s desk on Monday. Trump now has 10 days to veto it, or it becomes law automatically.
“The president, I believe, is going to sign that bill,” Johnson said. “He delayed it.”
But when asked Monday, Trump was noncommittal.
“When I look at that bill, it’s a bill. But when I look at the Save America Act, it’s about saving America,” he told reporters in the Oval Office. “I’d like to have the Save America Act added on. That’s probably not going to happen because we have four Republican senators – maybe five – who just won't vote for it.”
