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Tim Scott

Senate Housing Bill Aims to Ease Homeownership, Boost Affordable Housing Supply

by Priya Shah – Business Editor August 2, 2025

written by Priya Shah – Business Editor

New Housing Bill Aims too Boost Affordability and Disaster Recovery

A proposed legislative package, the “Road to Housing Act of 2025,” is generating discussion for its potential to address housing affordability and enhance disaster recovery efforts. The bill includes provisions that coudl substantially impact the manufactured housing market and provide crucial support for homeowners affected by natural disasters.

Manufactured Housing Reforms

A key component of the bill targets manufactured housing, formerly known as mobile homes. These factory-built homes,transported in one or more sections,currently must be installed on a permanent chassis,according to the Department of Housing and Urban Development (HUD). The “Road to Housing Act of 2025” proposes eliminating this federal requirement and expanding lending and financing options for manufactured homes.

Economist Mark Zandi highlighted the potential benefits of these changes,noting that manufactured housing is more affordable to produce and sell. He pointed out its popularity in the South, a region experiencing particularly acute housing shortages. “With a few changes in lending and regulation,we might see more manufactured housing,and that could be very,very helpful for improving homeownership,” zandi stated.

Strengthening disaster Recovery Programs

The legislation also seeks to permanently authorize the community Development Block Grant Disaster Recovery (CDBG-DR) program,administered by HUD.This program provides essential resources to states,tribes,and communities for housing reconstruction following natural disasters.

Currently, the CDBG-DR program requires regular authorization from Congress, frequently enough after a disaster has occurred. Alys Cohen,director of federal housing advocacy at the National Consumer Law Center,described the permanent authorization as “one of the most meaningful accomplishments” of the proposed package. While individuals can receive aid from the federal Emergency Management Agency (FEMA) after a disaster, the CDBG-DR program is crucial for providing the necessary funds for rebuilding efforts.

Support for rural and Low-Income Homeowners

Another provision in the bill aims to assist low-income and rural homeowners with mortgages backed by the U.S. Department of Agriculture (USDA). Currently, borrowers with USDA direct loan mortgages do not have the option to reduce their monthly payments by extending the loan term, a common practice for government-backed mortgages. The “Road to Housing Act of 2025” would rectify this by allowing these borrowers to access such financial relief.

However,Cohen expressed some reservations,noting that it remains unclear whether the bill,in its entirety,will adequately address the needs of those most in need,including “underserved communities and households of color.” She characterized the bill as a “series of measures, some of which are bold, some of which are modest, some of which will be helpful, some of which may be harmful. The hope is that itS a significant step forward.”

The “road to Housing Act of 2025” represents a multifaceted approach to tackling housing challenges, with potential implications for affordability, disaster resilience, and equitable access to homeownership.

August 2, 2025 0 comments

Business

Trump appointees pushed more marble in Fed building renovation White House now attacks

by Priya Shah – Business Editor July 18, 2025

written by Priya Shah – Business Editor

Federal Commission Debates architectural styles Amidst Renovations

A recent debate within a federal commission tasked with overseeing architectural design has highlighted a divergence in perspectives on neoclassical versus modern aesthetics, especially in the context of government building renovations. The discussion, as detailed in meeting minutes, touched upon the perceived cost implications of different architectural styles.

Context:

The debate gained traction as the commission considered renovations for federal buildings. One prominent figure in the discussion, a professor of architecture, suggested that stone buildings, often associated with neoclassical designs, do not inherently carry exorbitant costs. Though, he noted that the commission’s mandate did not typically extend to cost-benefit analyses of different architectural approaches, such as comparing the expense of a marble facade versus a glass facade.

The commission’s deliberations reportedly became more contentious following personnel changes made by the Trump administration. The replacement of several members with individuals who, according to a former commission member, often aligned with the sentiments expressed in a draft executive order promoting classical architecture, intensified the debate. This shift in membership led to a more pronounced disagreement on the degree to which renovations should adhere to original designs, a factor that can influence construction costs.In December 2020, President Trump issued an executive order that criticized modernist architecture and advocated for classical designs characterized as “beautiful” and conventional. This order was later revoked by President Biden. However,Trump,upon commencing his second term,reissued the order on his first day in office.The project in question received final approval from the commission in September 2021, after the removal of two Trump appointees, including one who frequently echoed the sentiments favoring classical architecture.

This report was supplemented by contributions from Associated Press writer Seung Min Kim.

July 18, 2025 0 comments

Business

Senate expected to pass crypto bill without addressing Trump’s investments

by Priya Shah – Business Editor June 17, 2025

written by Priya Shah – Business Editor

Senate Poised to Regulate Crypto Stablecoins Amid Trump’s Financial Ties

Legislation on the Horizon

The Senate is likely to approve a bill regulating stablecoins, a type of cryptocurrency, marking a key step in the digital asset industry’s push for legitimacy. This legislation, the first of many expected crypto-related bills, seeks to reassure consumers and could reshape the financial landscape.

This fast-tracked bill, which will go to the House, comes after the crypto industry spent significantly on political campaigns. The industry seeks greater influence in Washington and elsewhere. Eighteen Democratic senators have endorsed the measure, aligning with the Republican majority in the Senate. This follows the “Laken Riley Act” on immigration enforcement earlier this year.

However, many Democrats are against the bill, voicing concerns about how it addresses Donald Trump’s financial interests in the crypto sphere.

“We weren’t able to include certainly everything we would have wanted, but it was a good bipartisan effort,”

—Angela Alsobrooks, D-Md.

The GENIUS Act

The “GENIUS Act” plans to establish consumer protections and guardrails for stablecoins, which are usually pegged to the U.S. dollar. The acronym stands for “Guiding and Establishing National Innovation for U.S. Stablecoins.”

The bill is expected to pass Tuesday because it needs only a simple majority vote, having cleared a major procedural hurdle last week. But the bill has faced stiffer resistance than expected.

Notably, the bill bans members of Congress and their families from profiting from stablecoins. However, it doesn’t extend to the president and his family, even as Trump is developing a crypto enterprise from the White House.

Last month, the Republican president held a private dinner at his golf club in Virginia with leading investors in a Trump-branded meme coin. The Trump family has a large stake in a crypto project, World Liberty Financial, which introduced its own stablecoin, USD1. Data from the Financial Crimes Enforcement Network (FinCEN) shows a significant rise in stablecoin transactions in recent years, with trading volume reaching nearly $2 trillion in 2023 (FinCEN 2024).

Industry Influence and Bipartisan Support

The Trump administration is broadly supportive of crypto’s growth and its integration into the economy. Last week, Treasury Secretary Scott Bessent said the legislation could push the U.S. stablecoin market beyond $2 trillion by the close of 2028.

Brian Armstrong, CEO of Coinbase, the largest crypto exchange, has met with Trump and applauded his early actions on crypto. Coinbase sponsored a parade in Washington for the Army’s 250th anniversary, coinciding with Trump’s birthday.

The crypto industry highlights the bipartisan nature of its legislative efforts, with support from both sides. “The GENIUS Act will be the most significant digital assets legislation ever to pass the U.S. Senate,” said Senate Banking Committee Chair Tim Scott, R-S.C., before a vote last week. “It’s the product of months of bipartisan work.”

In early May, some Senate Democrats who initially backed the bill reversed their support, prompting fresh negotiations among Senate Republicans, Democrats, and the White House, resulting in the compromise expected to pass Tuesday.

“many, many changes” were made during negotiations and that “it’s a much better deal because we were all at the table.”

—Alsobrooks

Cynthia Lummis, GOP Wyoming Sen., said that she is “okay” with the stablecoin legislation after negotiations. However, the bill still leaves unresolved concerns regarding conflicts of interest, causing tension among Democrats.

Elizabeth Warren, D-Mass., the ranking member on the Senate Banking Committee, warned the bill creates a “super highway” for Trump corruption. She has also warned that the bill would enable significant tech firms, such as Amazon and Meta, to launch their own stablecoins.

If the stablecoin bill passes the Senate, it must still pass the House, where lawmakers might try to include a broader market structure bill, potentially complicating passage through the Senate. Trump wants the legislation on his desk before the August recess, less than 50 days away.

June 17, 2025 0 comments