President Trump canceled a planned news conference and bill signing ceremony for the 21st Century ROAD to Housing Act, declaring he will not sign the bipartisan bill until the SAVE America Act is sent to his desk.
However, even if Trump doesn’t sign the bill, it will become law within 10 days if Congress stays in session.
The bill, which aims to boost home supply and prevent large institutional investors from buying homes, cleared the House on Tuesday.
Per NBC:
The 21st Century ROAD to Housing Act includes grant funding and pilot programs to build new homes. It would also ease some regulations and empower local governments to expedite reviews to build housing. And a key section titled “Homes Are For People, Not Corporations” would limit any “large institutional investor” from buying single-family homes.
The bill had stalled for months amid disputes between the House and the Senate. But a breakthrough came last week when key committee leaders in both chambers struck a deal, namely Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., and Reps. French Hill, R-Ark., and Maxine Waters, D-Calif.
The national political environment has deteriorated for Republicans ahead of the midterms. Trump’s approval rating is just 37% in a recent Associated Press poll, dragged down by the fact that just 33% approve of his handling of the economy.
The President was scheduled to sign the bill at the US Capitol this afternoon, but canceled the ceremony, citing a “National Emergency.”
“Today’s Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency,” Trump said on Truth Social.
Trump similarly has leveraged the FISA Section 702 extension to force Senate Republicans to pass the voter ID bill.
“To add a slight bit of intrigue but, for the Good of the Nation, and the People of our Country, I will not approve FISA without THE SAVE AMERICA ACT going along with it,” Trump announced, saying the Republicans “fell into a trap.”
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