The Senate today passed a bipartisan housing package with overwhelming support, setting up a protracted battle with House Republicans over what President Donald Trump should enact.
The White House has signaled it supports the bill, which includes the president’s proposed ban on institutional investors in housing. Sen. John Kennedy, R-La., said he even “got a visit from some of the folks at the White House … encouraging us to pass it.”
But the ban also includes a controversial provision that requires institutional investors to sell any rental properties they build to individuals within seven years, which some industry groups have warned could deplete supply.
Trump’s own Treasury Department has privately pushed back on the language. Already-skeptical House Republicans are agitating for House Speaker Mike Johnson to go to conference on the bill so the lower chamber can make its own changes.
But the longer the process takes, the less time the GOP has to tout the legislation on the campaign trail.
Burgess Everett contributed reporting.