Trump takes wind out of GOP win on housing bill

President Trump is taking the wind out of a potential GOP win as Republican frustrations mount over how he is handling the issue of affordability ahead of the midterms. 

Trump was slated to sign the bipartisan 21st Century ROAD to Housing Act last month, but he abruptly canceled the signing ceremony amid a feud with Senate Republicans over his stalled voter ID legislation.

The president maintained in a Truth Social post on Friday that he would not sign the legislation “in protest” over Senate inaction on the Safeguard American Voter Eligibility (SAVE America) Act, a bill that would impose federal voter ID requirements and dramatically limit voting by mail.

If Trump does not veto the housing bill before midnight Friday, it will automatically become law. Regardless, the GOP divisions over the bill could make it harder for the party to sell its handling of the economy to voters.

Trump and Republican lawmakers are under pressure ahead of the midterm elections as inflation climbs to three-year highs.

The annual inflation rate hit 4.1 percent in May, according to the Commerce Department’s personal consumption expenditures price index, the highest rate since 2023.

At the same time, housing prices are soaring to record highs, even as home sales and listings lag behind historic levels.

The legislation aims to roll back some permitting regulations and hinder corporations from purchasing single-family homes, as well as push for vacant or abandoned buildings to be developed into housing. Additionally, it would give grants and loans to people to rebuild older homes. 

Prior to his decision not to sign the bill last month, Trump was incorporating housing into his broader affordability message. The president signed an executive order in January to ban large institutional investors from buying single-family homes. Trump also directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds in an effort to........

© The Hill