On May 12, leadership of the U.S. House Financial Services Committee released revised text of the 21st Century ROAD to Housing Act, a bipartisan pro-supply housing package currently under consideration by Congress aimed at addressing key barriers to housing production and affordability in the United States. While no one legislative solution can address the U.S.’s housing affordability challenges overnight, the legislation represents Congress’s most significant attempt to address housing affordability and supply constraints in several decades.

The revised House text removes a potentially harmful provision from the Senate-passed bill that would have required certain build-to-rent investors to sell properties after seven years. Removing the provision helps keep the legislation focused on expanding housing supply without discouraging private investment in new housing.

Statement from NLBMDA President & CEO Jonathan Paine on the new housing package legislative text:

“Throughout the development of this housing package, NLBMDA has worked closely with lawmakers to ensure the LBM industry’s perspective is represented in the federal housing supply conversation. Any serious effort to address America’s housing challenges must recognize the businesses that make construction possible. LBM dealers play a critical role in that process, supplying the materials, product expertise, logistics, and jobsite support builders depend on every day.

After reviewing the most recent text of the 21st Century ROAD to Housing Act, NLBMDA believes the revised legislation strengthens the bill and advances practical, pro-supply solutions to help increase housing production. While no single bill can solve the nation’s housing affordability challenges, this package reflects an important bipartisan step toward reducing barriers to construction and bringing greater certainty to the housing market.

NLBMDA supports the updated legislation and urges Congress to advance a final housing package this year. We will continue working with lawmakers in the coming weeks to make the case for the 21st Century ROAD to Housing Act and its policies that support and strengthen the residential construction supply chain, helping to deliver more attainable housing across the United States.”

NLBMDA recently hosted a webinar breaking down the 21st Century ROAD to Housing Act and outlining how members can help support the legislation as Congress works toward a final housing package. The webinar covered the bill’s latest status, key pro-supply provisions, and opportunities for LBM dealers to engage with lawmakers.

About NLBMDA
The National Lumber and Building Material Dealers Association (NLBMDA) is the recognized voice and resource of the lumber and building material industry to federal legislators and regulatory agencies in Washington, D.C. NLBMDA provides its members the resources and education to comply with federal laws, codes, and regulations. NLBMDA identifies challenges and growth opportunities for the industry and collaborates with its Federated Association Partners to develop solutions that require national implementation. Visit www.Dealer.org to learn more.