NCSHA Washington Report | March 6, 2026

No domestic issue over the past few weeks has dominated Congress’ attention or generated substantive congressional action more than housing affordability. With the most significant bill to address the issue in a generation on the brink of final passage, it appears, typical tensions and tradeoffs that accompany transformative legislation are in sharp focus.

The Senate’s overwhelming 90 – 8 – 1 vote Wednesday to begin consideration of the 21st Century ROAD to Housing Act, three weeks after the House passed a similar bill, the Housing for the 21st Century Act, 390 – 9, makes clear both parties emphatically agree federal action is needed to help lower housing costs.

There’s a lot of overlap between the two sprawling bills. Senate Banking Committee Chairman Tim Scott (R-SC), one of the architects of the Senate legislation, argues that 90 percent of it is based on “bicameral work” or reflects other proposals from members of the House. Only five percent of the Senate bill, he reckons, lacks bipartisan support.

Still, House Financial Services Committee Chairman French Hill (R-AR), who led that chamber’s effort, said this week he was “disappointed” the Senate bill omits community bank reforms the House bill included, which he hoped they would “reconsider.” At the same time, Hill and other House Republicans have objected for several months to provisions in the Senate bill that would create new programs and authorize (but not actually appropriate) new federal funding for them.

The biggest difference between the two chambers, though, is the Senate bill’s limits on institutional investor acquisitions of single-family homes, including a requirement added at the 11th hour that large owners of new homes built for rent sell them to individual home buyers after seven years. None of that is in the House bill.

The first part — the acquisition limits — is in the Senate version because it reflects President Trump’s top demand, as part of his drive to block “Wall Street from competing with Main Street homebuyers.” The second part — the sale requirement — goes further than the administration had publicly suggested and has generated strong opposition from House Republicans and home builders and apartment developers.

While some analysts believe “all signs point to the Senate jamming the House” – the Senate is expected to pass its bill next week – and Treasury Secretary Scott Bessent said the House should “swiftly send the Senate bill” to President Trump to sign, it’s possible last-minute negotiations will smooth out that issue and maybe a few more.

Bessent’s directive amplified the White House’s endorsement of the Senate bill, about which it said Monday: “This landmark, bipartisan legislation represents significant advances in federal housing policy to further the goals of expanding housing supply and affordability…[T]his bill will lower housing costs for families, seniors, and veterans across the country.”

The White House’s full-throated support for a bill that expands federal efforts on housing affordability more than any in decades acknowledges the reality that housing costs are now a national political issue and is in effect a vote of confidence in the nation’s housing agency, the Department of Housing and Urban Development, which will have to implement most of it.

It’s likely HUD, with its state and local governmental and private-sector and community-based partners, will have a lot more work to do. Which would be a good thing.

Stockton Williams | Executive Director

In This Issue

• Senate Begins Consideration of 21st Century ROAD to Housing Bill
• HUD Proposes Rule Giving PHAs, Owners Authority to Set Resident Work Requirements, Term Limits
• House Appropriations Subcommittee Hears from Acting HUD IG
• NLIHC Releases Annual Housing Gap Report
• NCSHA in the News
• Looking Ahead

Senate Begins Consideration of 21st Century ROAD to Housing Bill
As mentioned above, the Senate voted Wednesday to begin debate on comprehensive affordable housing legislation by a bipartisan vote of 90 – 8. Procedurally, the vote approved Senate consideration of the Housing for the 21st Century Act, which the House of Representatives passed three weeks ago. The Senate is expected to adopt a substitute amendment to the House bill that would replace it with the 21st Century ROAD to Housing Act, a bill that combines most of the House-passed bill’s provisions with most of the Senate-passed ROAD to Housing Act.

The 21st Century ROAD to Housing Act includes many of NCSHA’s priorities, including legislation to reauthorize and reform the HOME Investment Partnerships Program, increase the public welfare investment cap, authorize decoupling of rental assistance from maturing Section 515 rural multifamily housing mortgages, streamline environmental review requirements for affordable housing, and create a new grant program for home repairs for low- and moderate-income homeowners. The combined bill also includes legislation, pushed for by the Trump Administration, to prohibit single-family home purchases by institutional investors that own 350 or more such homes. Neither the House nor Senate bill initially contained such language.

The Senate is expected to pass the 21st Century ROAD to Housing Act next week, though further changes could be made before the final vote. After Senate passage, the House could approve the Senate-passed bill or look to reconcile the differences between the House and Senate bills. NCSHA sent a letter to House and Senate leaders last week outlining our priorities for this legislation.

HUD Proposes Rule Giving PHAs, Owners Authority to Set Resident Work Requirements, Term Limits
The U.S. Department of Housing and Urban Development (HUD) Monday published a proposed rule that would allow public housing agencies (PHAs) and owners of certain multifamily housing to establish work requirements and term limits for eligible adults and families residing in public housing or receiving rental assistance through the Housing Choice Voucher (HCV), Project-Based Voucher (PBV), or Project-Based Rental Assistance (PBRA) programs.

Currently, only PHAs participating in the Moving to Work demonstration program may set work requirements and term limits for residents living in public housing or receiving HCVs. PHAs and owners would be allowed to adopt work requirements for work-eligible adults for up to 40 hours a week as a condition of continued occupancy in public housing or receipt of HCVs, PBVs, or PBRA. The proposed rule also would allow PHAs and owners to establish term limits of no less than two years for non-elderly, non-disabled families. HUD is accepting public comments on the proposed rule until May 1. To help inform NCSHA’s comments, please send any input you may have to Glenn Gallo by April 17.

House Appropriations Subcommittee Hears from Acting HUD IG
The House Appropriations Subcommittee for Transportation, Housing and Urban Development, and Related Agencies yesterday held a hearing to examine oversight and fraud prevention at HUD and the U.S. Department of Transportation (DOT). Witnesses included Brian Harrison, Acting Inspector General at HUD, and Mitch Behn, Deputy Inspector General at DOT.

In his written and spoken testimony, Harrison noted HUD Secretary Scott Turner has made protecting taxpayer funds a priority and HUD’s Office of the Inspector General (OIG) is excited to work with HUD on this effort. Harrison cited nearly $400 million in waste, cost overruns, and fraud his office identified in fiscal year (FY) 2025. For FY 2026, Harrison said his office would conduct a widespread review of HUD activities and focus especially on potential fraud. One obstacle to OIG’s efforts, Harrison acknowledged, is the lack of modern information technology systems at HUD.

In his opening remarks, Subcommittee Chairman Steve Womack (R-AR) credited the HUD and DOT OIGs with ensuring the subcommittee can effectively serve its purpose to allocate federal funds responsibly. He argued HUD housing assistance spending is continuously increasing, underscoring the need for vigorous oversight. Ranking Member Jim Clyburn (D-SC) and other subcommittee Democrats expressed concern the Trump Administration has not yet nominated a new Inspector General for HUD (or DOT) after firing the previous one last year. Democrats asked Harrison whether HUD OIG has examined the impact the recent staffing reduction at HUD would have on program performance and fraud. Harrison said it was too early for OIG to reach a conclusion on that topic but it could be addressed as part of OIG’s planned comprehensive review of HUD activities.

NLIHC Releases Annual Housing Gap Report
This week, the National Low Income Housing Coalition (NLIHC) released the 2026 edition of The Gap, its annual report examining the nation’s shortage of affordable housing for extremely low-income renters, defined as households with incomes at or below 30 percent of area median income or the federal poverty guideline, whichever is higher. This year’s report finds the United States faces a shortage of 7.2 million affordable and available rental homes for the country’s 11 million extremely low-income renter households. Nationwide, only 35 affordable and available rental homes exist for every 100 extremely low-income renters, leaving millions with limited housing options.

NLIHC’s report also highlights the severe financial strain on these households: 74 percent are severely cost burdened, spending more than half of their income on housing and utilities. The report calls on Congress to expand investments in deeply targeted rental assistance, preserve existing affordable housing, and strengthen programs that help prevent evictions.

NCSHA in the News
Hoodline Charlotte, 2.25.26, Greystone Drops $80.9M to Rescue Aging Rural North Carolina Rentals

Looking Ahead

Legislative and Regulatory Activities

• March 26 | House Financial Services Committee’s Housing and Insurance Subcommittee | Hearing: Mitigation and Multiple Loss Properties: Factors Influencing the High Cost of Flooding
• April 10 | Comments Due to NCSHA | HUD Proposed Rule: Verification of Eligible Status for HUD-Subsidized Housing Assistance
• April 17 | Comments Due to NCSHA | HUD Interim Final Rule: Revocation of the 30-Day Notification Requirement Prior to Termination of Lease for Nonpayment of Rent
• April 17 | Comments Due to NCSHA | HUD Proposed Rule: Allowing PHAs and Owners to Set Work Requirements and Term Limits
• April 21 | Comments Due | HUD Proposed Rule: Verification of Eligible Status for HUD-Subsidized Housing Assistance
• April 27 | Comments Due | HUD Interim Final Rule: Revocation of the 30-Day Notification Requirement Prior to Termination of Lease for Nonpayment of Rent
• May 1 | Comments Due | HUD Proposed Rule: Allowing PHAs and Owners to Set Work Requirements and Term Limits

State and Industry Events

• March 9 – 11 | NAHRO Washington Conference | Washington, DC
  Jennifer Schwartz will speak at this event.
• March 16 | 2026 Conference on Housing and Economic Development | Boise, ID
  Stockton Williams will speak at this event.
• March 17 | 2026 COSCDA Program Managers Training Conference | Washington, DC
  Garth Rieman will speak at this event.
• March 18 | New Hampshire Housing Homeownership Conference 2026 | Concord, NH
  Stockton Williams will speak at this event.
• March 18 – 19 | Yardi Forum: Affordable Housing and PHA | Boston, MA
  Jennifer Schwartz will speak at this event.
• March 23 – 26 | NAHMA Top Issues in Affordable Housing Conference | Washington, DC
  Jennifer Schwartz will speak at this event.
• April 14 – 16 | NIFA Innovation Expo 2026 | Lincoln, NE
  Jennifer Schwartz will speak at this event.
• April 21 – 23 | Affordable Housing Investors Council Spring Meeting | Scottsdale, AZ
  Jim Tassos will speak at this event.