Bipartisan consensus emerged at the House Committee on Financial Services Member Day Hearing on June 25, 2025, as members highlighted the urgent need to reform housing regulations that are seen as overly burdensome. A key speaker emphasized that both state and local regulations are driving up costs and undermining the effectiveness of federal investments in housing.

The speaker pointed out that compliance with extensive regulations often exceeds the funding provided for housing projects, making it difficult for developers, especially small nonprofits and minority housing developers, to navigate the system. "The compliance process for achieving these outcomes is so burdensome that it can take years and exorbitant amounts of time and capital to execute an affordable housing project," they stated, urging colleagues to consider reforms that would streamline these processes.

The discussion also touched on the importance of updating the Department of Housing and Urban Development (HUD) programs, particularly the HOME and Community Development Block Grant (CDBG) programs, which are vital for increasing housing supply in local communities. The speaker called for maximum support from the committee to facilitate constructive engagement with the administration on these reforms.

In a separate but significant discussion, Congressman Al Green advocated for legislation to award a congressional gold medal to Africans and their descendants who were enslaved in the United States. He argued that this recognition is overdue and should reflect the sacrifices made by these individuals, distinguishing it from reparations.

The hearing underscored a critical moment for housing policy reform and recognition of historical injustices, with members expressing a commitment to advancing these discussions in the legislative process.