President Donald Trump canceled a planned signing ceremony for a bipartisan housing bill that cleared Congress with overwhelming support, saying he will withhold action until lawmakers pass the SAVE AMERICA ACT. The housing legislation, approved 85-5 in the Senate and 358-32 in the House, is designed to accelerate home construction, reduce regulatory hurdles, and address the U.S. affordable housing shortage.
- Trump announced the cancellation in a Truth Social post on June 24.
- The housing bill passed the Senate 85-5 and the House 358-32.
- Key provisions include expedited environmental reviews for housing projects and limits on ownership of single-family homes by large institutional investors.
- Trump said the bill is being delayed until Congress passes the SAVE AMERICA ACT, a voting-related proposal that previously lacked sufficient Senate support.
- The president has 10 days, excluding Sundays, to sign or veto the legislation; otherwise it can become law without his signature.
- The bill aims to address a nationwide shortage of affordable housing amid elevated mortgage rates and home prices.
Relevant Companies
- Lennar ($LEN) – Major U.S. homebuilder that could benefit from measures intended to accelerate residential construction.
- D.R. Horton ($DHI) – Large homebuilder with exposure to policies aimed at increasing housing supply.
- Invitation Homes ($INVH) – Single-family rental operator that could be affected by provisions limiting ownership concentration by large investors.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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