The President has canceled a planned news conference and bill signing ceremony for the 21st Century ROAD to Housing Act, declaring he will not sign the bipartisan bill until the SAVE America Act is sent to his desk.
Even if Trump doesn't sign the bill, it will become law within 10 days if Congress stays in session. The bill, which aims to boost home supply and prevent large institutional investors from buying homes, cleared the House on Tuesday.
The 21st Century ROAD to Housing Act includes grant funding and pilot programs to build new homes. It would also ease some regulations and empower local governments to expedite reviews to build housing. A key section titled “Homes Are For People, Not Corporations” would limit any “large institutional investor” from buying single-family homes.
The bill had stalled for months amid disputes between the House and the Senate. However, a breakthrough came last week when key committee leaders in both chambers struck a deal, paving the way for the bill's passage.
The national political environment has deteriorated for Republicans ahead of the midterms. Trump’s approval rating is just 37% in a recent poll, dragged down by the fact that just 33% approve of his handling of the economy.
The President was scheduled to sign the bill at the US Capitol this afternoon, but canceled the ceremony, citing a “National Emergency.” “Today’s Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency,” Trump said.
Trump has leveraged his executive powers to force Senate Republicans to pass other key legislation, including the FISA Section 702 extension and the voter ID bill. He has linked the passage of these bills to the SAVE America Act, citing national emergency justifications.
