Trump not expected to veto housing bill, U.S. official says
President Trump is not expected to veto the landmark housing bill passed by Congress last month, a U.S. official told CBS News, which would allow it to become law without his signature.
On Friday morning, the president stated that he wouldn’t sign the bipartisan housing bill, just hours before it would automatically become law without his signature. While he hasn’t publicly declared whether he would veto the legislation, the bill will pass into law if not signed within 10 days, as long as Congress remains in session.
The president’s frustration over the Senate’s failure to pass his preferred version of the Save America Act has been evident. He demanded that Congress prioritize this legislation before anything else, leading to his abrupt cancellation of the signing of the housing bill last month.
In a recent social media post, President Trump expressed his refusal to sign the Housing Bill, citing his protest against the Senate’s inability to pass the Save America Act, which he claims has strong support within the Republican Party. This move has surprised many Republicans in Congress, who viewed the housing legislation as a significant win in addressing voter concerns during a challenging midterm election cycle.
The 21st Century ROAD to Housing Act, which is set to become law if the president does not veto it, is hailed as the most comprehensive housing legislation in decades. It aims to tackle issues such as increasing housing supply and reducing costs, including measures to restrict institutional investors from buying certain single-family homes.
Despite the president’s stance, the housing bill is poised to take effect by 12:01 a.m. Saturday if left unsigned. The legislation’s passage signifies a significant step towards addressing housing affordability, a critical issue affecting many Americans. With the median price of existing homes on the rise, the new law seeks to make homeownership more accessible to a broader segment of the population.
