NEWYou can now listen to Fox News articles!
The biggest housing bill in more than 30 years is finally law. For more than two weeks, President Donald Trump refused to sign the bill — not because he had a problem with it, but because he cared so little about the squeeze families are facing that he sat on the bill for so long, it became law without him.
President Trump calls the affordability crisis a "hoax" and has called this landmark legislation "minor." But overwhelming numbers of Americans understand that the affordability and housing crises are anything but minor. The 21st Century ROAD to Housing Act is an important step toward doing something about it.
This new law establishes powerful federal incentives to get communities across the country to build more housing. It removes outdated rules, so that housing can be built more quickly. It makes it cheaper to build manufactured housing.
CONGRESS EYES RARE BIPARTISAN HOUSING WIN WITH OR WITHOUT TRUMP'S HELP
The bill also stops private equity from buying up single-family homes. For years, I’ve been raising the alarm about private equity taking over industries, stripping them for parts, and running businesses into the ground. Congress had never before held private equity accountable for anything. That changed with the passage of this major bipartisan bill. Nearly 90% of voters support this law, and it wouldn’t have happened without the leadership of Sen. Tim Scott, R-S.C., Rep. Maxine Waters, D-Calif., mayors across the country, and everyone who helped push it across the finish line.
There is much more we need to do to lower housing prices. I’ve proposed dozens of additional ideas, from ending tax benefits for private equity landlords to making more investments to build housing, and we should start moving forward on them. This legislation is proof that when faced with a crisis this severe, even with a disinterested president, Congress can act. But the affordability crisis doesn’t end with housing. So rather than pat ourselves on the back, it’s time to start sprinting.
Let’s start by capping credit card interest rates at 10% — something President Trump promised to do last January. Nearly two-thirds of Americans across party lines support this. Families have already paid $368 million every single day for Trump’s broken promise. They cannot afford to wait a day longer.
STEVE MOORE: POLITICIANS ARE BLAMING THE WRONG VILLAIN FOR AMERICA’S RISING FOOD PRICES
Let’s tackle grocery costs — the No. 1, week after week, financial pressure for families. Dominant corporations across the highly consolidated food industry, from beef to eggs, have been caught engaging in anticompetitive tactics that are driving up grocery prices. Democrats and Republicans support cracking down on grocery store price gouging. Congress can give antitrust regulators more tools to crack down on unfair pricing by major food corporations. And my Price Gouging Prevention Act, which builds on price gouging laws in dozens of red and blue states, would do just that.
Let’s take on the crushing burden of health care costs. Trump and Republicans have ripped health care away from millions, and Democrats will keep fighting to reverse those devastating cuts. But voters want more.
President Trump and Health Secretary Kennedy say they don’t want Americans paying more than the rest of the world for prescription drugs? Let’s pass legislation to get it done. Another area of bipartisan agreement? Cracking down on giant corporations that gobble up every part of our health care system — from insurers to pharmacy benefit managers to your doctor’s office — and then jack up prices. My bipartisan Break Up Big Medicine Act would address rampant consolidation and help make health care more affordable.
Another idea that is popular with the vast majority of Americans is lifting the Social Security payroll tax cap to save Social Security for the next generation. With prices skyrocketing, the last thing seniors need is their benefits slashed in 2032 if Congress fails to act. Majorities of Democrats, Republicans, and independents favor eliminating the payroll tax cap so the wealthiest Americans contribute the same percentage of their income as a factory worker or a firefighter. I am working on bipartisan legislation to get this done.
Another idea that is popular with the vast majority of Americans is lifting the Social Security payroll tax cap to save Social Security for the next generation. With prices skyrocketing, the last thing seniors need is their benefits slashed in 2032 if Congress fails to act. (AP Photo/Nam Y. Huh, File)
We should also act to increase wages — starting with raising the minimum wage. Under President Trump, inflation is at its highest level in three years, which means more and more families who work full-time jobs earning the minimum wage still live in poverty. Meanwhile, Congress has sat on its hands for almost 20 years. Across the country, more than 80% of Democrats, independents, and Republicans think the current federal minimum wage is too low. They’re right. It’s decades past time for Congress to act.
CLICK HERE FOR MORE FOX NEWS OPINION
The skyrocketing cost of child care is another concern for Americans across party lines. A whopping 82% of voters say federal child care funding would help lower costs. We should cap the cost of child care at no more than 7% of income, expand child care supply, and boost wages for child care workers.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
There are so many more ideas to address the affordability crisis that Democrats, Republicans, and independent voters support — like investing in domestic drug manufacturing, stopping data centers from driving up electricity bills, and taking on corporate profiteering across the economy. With ROAD to Housing, we’ve proven that Congress can act to lower costs. Now it’s time to build on the housing law’s momentum and make life more affordable for all Americans.
CLICK HERE TO READ MORE FROM SEN. ELIZABETH WARREN
Democrat Elizabeth Warren represents Massachusetts in the United States Senate.
