The U.S. House passed the “Housing for the 21st Century Act” in February. The Senate responded this month with a bill that includes much of the House bill, which it named the “21st Century ROAD to Housing Act.” Both are supposed to increase housing supply and thus bring down costs for would-be buyers. At least, that is the claim of supporters of the legislation. As of last Thursday, March 12, the Senate passed its version with an overwhelming 89-10 vote . However, the bill now faces an uncertain path back in the House, where some Republican lawmakers are raising concerns over certain provisions, especially the bill’s prohibition of a central bank digital currency. There are some more serious concerns that should be considered before enacting this legislation, which cut to the heart of the legislation’s key claim. Will the bill in fact solve the U.S. housing crisis? As business-news site QZ aptly reported : “Critics note that the bills don’t directly address how to solve the housing shortage or how to increase new construction funding.” Get the hottest, most important news stories on the Internet – delivered FREE to your inbox as
