Senate Passes Bipartisan Housing Bill to Improve Access and Affordability

The legislation aims to reduce regulations, regulate corporate investors, and expand funding for affordable housing construction.

Mar. 12, 2026 at 4:50pm

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In a rare bipartisan effort, the U.S. Senate has passed a broad bill to make housing more accessible and affordable across the country. The legislation, which passed with a vote of 89-10, would reduce regulations, regulate corporate investors, and expand how housing dollars can be used to build affordable homes and rentals. The bill now heads to the House, which had previously passed a similar measure.

Why it matters

The U.S. housing market has faced significant challenges in recent years, including a sharp rise in home prices, a chronic shortage of homes, and high rental costs. This bipartisan legislation is an attempt to address these issues and make homeownership and affordable housing more attainable for Americans.

The details

The bill would give local governments more power on housing issues, allow banks to invest more in affordable housing, and lift limits on the number of units in a public housing development that can receive private financing. It also aims to make homebuilding easier by streamlining some regulations and eliminating a limit on a grant for emergency shelter beds and street homelessness outreach. Additionally, the legislation would bar institutional investors from buying single-family homes, with some exceptions.

  • The Senate passed the bill on Thursday, March 12, 2026.
  • The House is expected to consider the Senate version of the bill, but could also launch a formal conference process to negotiate a final deal between the chambers.

The players

Elizabeth Warren

A U.S. Senator from Massachusetts who worked with Republicans to win overwhelming support for the legislation.

Tim Scott

The Republican Chairman of the Senate Banking Committee who led the effort on the bill with Warren.

John Thune

The Senate Majority Leader who said conference negotiations between the House and Senate are a possibility, but that the quickest way to pass the bill would be for the House to accept the Senate version.

Peter Carroll

An analyst at Cotality, a company that tracks housing data, who said the bill's provisions stop treating the U.S. like a single housing market and give local leaders more tools to address their unique regional challenges.

Yonah Freemark

A researcher at the Urban Institute who said the legislation is the product of lawmakers wanting something that could pass with both Democratic and Republican votes, which means it is "inherently less ambitious" than some housing advocates had hoped for.

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What they’re saying

“We have a housing shortage all across America. We need more housing of every kind. More housing for first-time home buyers, more housing for renters, more housing for seniors, more housing for people with disabilities, more rural housing, more urban housing, more, more, and more.”

— Elizabeth Warren, U.S. Senator (sfgate.com)

“You've got many provisions in this bill that stop treating the U.S. like one single housing market and start giving local leaders the tools they need to fix their unique regional puzzle.”

— Peter Carroll, Analyst, Cotality (sfgate.com)

“This legislation is the product of essentially senators and House members wanting to come up with something that could pass with both Democratic and Republican votes, which means it's inherently less ambitious.”

— Yonah Freemark, Researcher, Urban Institute (sfgate.com)

What’s next

The House is expected to consider the Senate version of the housing bill, but could also launch a formal conference process to negotiate a final deal between the chambers. The White House has indicated that it would need to make the case to House leadership if it wants the Senate bill to be passed quickly without going through conference negotiations.

The takeaway

This bipartisan housing legislation represents a rare compromise in a deeply divided Congress, reflecting the growing national urgency to address the country's housing affordability crisis. While the bill may not go as far as some housing advocates had hoped, it provides local governments with more tools to tackle their unique regional housing challenges and takes steps to regulate corporate investors and promote the construction of more affordable homes and rentals.