There's a massive bipartisan housing bill moving forward in Congress

The Senate Banking Committee on Tuesday unanimously advanced a huge housing bill aimed at boosting the supply of homes in the U.S.Why it matters: It's a rare moment of bipartisan agreement — and a sign of how bad the real estate market has gotten in the U.S., where home prices have soared and there's an ongoing shortage of affordable homes.Where it stands: Many of the provisions in the ROAD to Housing Act of 2025 would cut red tape around zoning and building standards. Housing is possibly the one place where Democrats and Republicans agree on the need for deregulation.But the package directs a lot of action at the Department of Housing and Urban Development —at the same time the Trump White House is cutting that agency's budget and staffing levels.Zoom in: One provision would direct HUD to come up with new guidelines around zoning and land-use policies to encourage more construction.Another would stand-up a pilot program where HUD offers grants and loans to low- and moderate-income homeowners and certain landlords.The bill would also streamline environmental reviews for certain housing projects.It authorizes $1 billion over five years for an "innovation fund" — local communities would get money if they come up with new ways to build more housing.Between the lines: The package combines a lot of the big trends in housing right now. It is what the "Abundance movement is seeking," writes Matt Stoller, the director of research at the liberal American Economic Liberties Project, name-checking the book from Ezra Klein and Derek Thompson that urges liberals to think bigger. It also borrows from the policy ideas of the YIMBYs, the yes in my backyard movement which is looking to build lots of houses and hack away about building codes."Every senator, Republican or Democrat, is facing people back home who tell them housing is a huge problem," Sen. Elizabeth Warren (D-Mass.) tells Axios.She and Sen. Tim Scott (R-S.C.) first agreed to tackle housing shortly after he took over as chair of the committee, she says.

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