U.S. Representative Report
For generations, the American Dream has been closely linked to homeownership. A strong and sturdy front porch where morning coffee can be enjoyed, a yard where kids can run around and play in the sprinklers on a hot summer’s day, and a kitchen large enough to host friends and family for Sunday dinners. All of it paints the picture of a home where a family can put down roots and build a future.
However, with our housing supply unable to keep up with demand, combined with the rising cost of living and miles of bureaucratic red tape, that dream has continued to slip further out of reach.
This week, House Republicans passed the Housing for the 21st Century Act, a bill that addresses several of the barriers to homeownership by removing unnecessary regulatory barriers, modernizing Housing and Urban Development (HUD) programs and requirements, and enhancing community banking operations.
A major topic of discussion across Congress this year has been the need for streamlining our permitting process. The housing industry is also sounding the alarm for needing these reforms, as millions of builders are experiencing permitting delays that severely impact their ability to push construction projects across the finish line. This bill also streamlines the process for builders to get permits approved in a timelier manner by allowing pre-approved home designs, so that homes can be built more quickly.
The Housing for the 21st Century Act supports community and rural banks by modernizing outdated oversight and streamlining exams. These commonsense reforms will ultimately expand local lending to our small businesses, farmers, and families while ensuring a dedication to financial responsibility.
By modernizing HUD programs, reducing unnecessary regulatory barriers to new home construction, and allowing banks to more freely deploy funding, this bill empowers homeowners and renters while strengthening communities and leading to more affordable housing choices for all Americans. Once again, House Republicans continue to advance legislation that works to restore the American Dream to those in Arkansas and across the nation.
