ORLANDO, Fla. — A bipartisan bill aimed at increasing housing affordability is now headed to the president’s desk for final approval.
The legislation is designed to encourage the construction of new homes by offering incentives to private developers.
Supporters say increasing supply is key to easing rising housing costs across the country.
In addition to boosting construction, the bill includes provisions that would encourage local governments to reform zoning laws and reduce permitting restrictions.
Lawmakers backing the measure argue that these changes could help speed up development and make it easier to build a wider range of housing options, including starter homes and multi-family units.
The bill also includes limits on large investors purchasing single-family homes, a move intended to give more individual buyers and families a better chance of entering the housing market.
The president has indicated he plans to sign the measure into law once it reaches his desk.
If signed, the legislation would represent one of the most significant federal efforts in recent years to address housing affordability challenges nationwide.
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