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Congressman says House will seek changes to Senate housing bill over CBDC ban and drafting errors
Summary
The congressman said House members broadly support improving housing affordability but have concerns about the Senate's housing bill language on a temporary ban on a central bank digital currency and legal drafting errors in a section limiting institutional ownership of single-family homes.
The congressman told Marie that while there is broad support in Congress for legislation to improve housing affordability, House members have reservations about the Senate's version of the bill and plan to seek changes.
He said some House members object to the Senate language that would place a temporary ban on a central bank digital currency until 2030, arguing they prefer a permanent prohibition on Fed issuance of a CBDC. He also flagged what he described as "serious legal drafting errors" in a provision labeled in the interview as section 901, which attempts to ban institutional ownership of single-family houses; he said lawmakers want to make sure any restriction is legally sound and does not inadvertently curtail capital that supports housing.
"We support the president in his goal of not having institutional investors competing with moms and dads and buying a house, we wanna make sure we get it right legally," the congressman said, adding that he and Ranking Member Maxine Waters are committed to negotiating with Senate colleagues to resolve differences.
Marie noted the Senate had approved the bill in an 89-10 vote; the congressman said the House would consider changes and work toward compromise before final passage.
