Renewing the American Dream: Senate Pushes Bold Housing Bill
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On July 29, a Senate committee unanimously approved the Renewing Opportunity in the American Dream to Housing Act of 2025, signaling rare bipartisan unity on tackling the national housing crisis. Sponsored by Senators Tim Scott and Elizabeth Warren, the bill aims to boost affordable housing through expanded construction, small mortgage access, appraisal reform, and support for manufactured housing. Analysts call it the most comprehensive housing legislation since the Great Recession, incorporating parts of 27 prior bills—23 with bipartisan backing. While the bill enjoys broad industry support, it still faces hurdles in the House, particularly due to the lack of defined funding and budget offsets.
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