▶ 0:18:15Committee will come to order. Pursuant to notice, I'll call up HR6644, the Housing for the 21st Century Act, which I introduced. The clerk will report the bill, which was distributed in advance.
▶ 0:18:32HR 6644, a bill to increase the supply of housing in America and for other purposes. Without objection, the bill is considered read and open to amendment at any point. I have an amendment in the nature of a substitute at the desk. Copies were distributed in advance. If the clerk would please report that
▶ 0:18:50An amendment in the nature of a substitute to HR6644 offered by Mr. Hill of Arkansas designated as HR6644
▶ 0:18:59Without objection, amendments considered. Red will serve as base text for the purposes of amendment. I recognize myself for five minutes. I want to thank Ranking Member Waters, Housing and Insurance Subcommittee Chairman Mike Flood, and Ranking Member of the Subcommittee Emanuel Clever for joining me and introducing the Bipartisan Housing for the 21st Century Act.
▶ 0:19:21I'm proud of the product that we've put forth today for the committee's This bill targets one of the most pressing issues of our time, our housing affordability challenge. For too long, the United States has failed to keep pace with the growing demand for a diverse supply of reasonably priced homes across a wide variety of geographic locations and costs per square foot.
▶ 0:19:46Often in many markets, this shortage disproportionately impacts middle-income families who find themselves increasingly priced out of the market. This trend has been compounded by an array of factors, including a 40-year high of inflation in 2021 and 2022 with rising costs of materials, regulatory delays, lack of building capital, and outdated zoning laws.
▶ 0:20:14All making it nearly impossible for many Americans to achieve their dream of home ownership. We simply cannot stand by why hardworking families struggle to find housing. This housing package represents a critical step forward for our families of all sizes and in all locations across our diverse nation.
▶ 0:20:35The Housing for 21st Century Act streamlines housing development and affordability by updating outdated programs, removing unnecessary federal mandates and requirements, and increasing local control. I urge all members of the committee to support the bill and I yield back the balance of my time. Who seeks recognition on my amendment of the nature of substitute? The ranking member, Miss Waters of California. You're recognized.
▶ 0:21:03Thank you very much, Mr. Chairman,
▶ 0:21:06thank you very much, Mr. Chairman.
▶ 0:21:09I move to strike the last word.
▶ 0:21:11You're recognized for five minutes.
▶ 0:21:12Uh, for far too long, millions of Americans have struggled to find a decent, stable, and affordable place to call home. That struggle is not abstract. It is real in rural towns, in urban areas, and in suburban neighborhoods all across our nation. H [clears throat] the Housing for 21st Century Act represents an important first step in that fight.
▶ 0:21:37HR6644, a bill I'm proud to have introduced with Chairman Hill along with Representatives Cleaver and Flood, would streamline housing development and affordability by expanding local development opportunities and modernizing housing programs that have become outdated or It also broadens access to home ownership, including through manufactured housing
▶ 0:22:07development and small dollar mortgage pilots, protects borrowers and assisted families, enhances federal oversight of housing providers, and increase the development of affordable housing for families in both rural and urban communities. I'm pleased that Mr. Hill and I were able to come together to advance this legislation.
▶ 0:22:31The housing crisis demands solutions that rise above partans and deliver real results for Americans. But as I made clear during our last hearing on housing and as I will continue to say, policy reforms alone are not enough. These programs must be funded if they're going to work for decades. Federal housing programs have been chronically underfunded.
▶ 0:22:59We have asked them to do more with less while the affordable housing shortage has grown more severe. That approach has failed and families are paying the price. Streamlining and modernization are necessary steps, but these alone cannot build us out of this crisis.
▶ 0:23:21The private sector has clearly shown that they are either unwilling or unable to build the millions of affordable homes necessary to end this crisis. Without the federal government coming to the table with real funding, we simply cannot create enough homes, keep renters stably housed, or preserve the existing affordable housing stop. And so we cannot stop here. This bill is the foundation, not a finish line.
▶ 0:23:50I know that several changes were made in the substitute amendment such as adding a provision to increase the public welfare investment cap for banks from 15 to 20% which add as much as 2.5 billion billion a year in new private housing capital.
▶ 0:24:08I hope that the chair will also give full consideration to the additional ideas im Democrats may offer today as we've been focused on this issue for a very long time. I also know that as the public reviews this bill, we may need to make refinements to ensure the bill is implemented in a way that best supports our communities.
▶ 0:24:32For example, I plan to closely review a provision that exempts a housing program from the Build America by America Act. Mr. Chairman, our bill is a testament to the bipartisanship as it is comprom comprised of approximately 38 18 of which are led by Democratic members of this committee.
▶ 0:24:57I'm proud of the many ways it supports American families and can grow our housing market. We owe it to our renters, homeowners, and future generations to act thoughtfully and compassionately today and finally deliver lasting s solutions to end the affordable housing crisis once and for all. I thank you and I yield back the balance of my time.
▶ 0:25:23The ranking member yields back. Who seeks recognition? the gentleman from Nebraska, Mr. Flood, who chairs our housing and insurance subcommittee. Mr. Flood, you're recognized to strike the last word.
▶ 0:25:32Thank you, Mr. Chairman. I am enthusiastically present today, and I totally support the Housing for the 21st Century Act, and I want to thank Chairman Hill, Ranking Member Waters, and my counterpart on the Housing and Insurance Subcommittee, Ranking Member Clever, for all of their respective work in bringing this package together. As I've said before, this is what it looks like when Congress gets things done.
▶ 0:25:55According to the National Association of Realtors, the median annual existing home price in 2024 was up 69% relative to 1995. And that figure is adjusted for inflation. The statistic I hate more is that uh firsttime home boer homeowner medium uh age is 40 years old. That's absolutely a astounding.
▶ 0:26:19This housing affordability challenge affects everyone from young people saving up to buy their first home to middleclass workers trying just to make the rent. In other words, housing costs have been too high across our country for the last several years. And the culprit is a lack of affordable housing supply. Some estimates put the gap between housing supply and demand at around 3.85 million units nationwide. Some put it even higher and more than 5 million units.
▶ 0:26:48There's no silver bullet for fixing this problem, let's be clear. But I think this legislation includes a range of meaningful housing reforms that will add to housing supply and ultimately decrease housing cost. I'd like to take a moment and highlight a few provisions that I feel will make a difference. Section 101 and section 202 of the bill include provisions that would shed light on some of the largest regulatory barriers that prevent housing from being built, zoning and land use policies.
▶ 0:27:15Section 104 and section 105 of the bill work to rightsize environmental reviews on both HUD and USDA housing projects to properly reflect their impact on the environment. An infill project or a rehab project simply are not going to have the kind of impact on the environment that would trigger a full NEPA review. This legislation ensures that these environmental reviews are properly tailored to the real impact of a project going forward.
▶ 0:27:41And this change will ensure more housing projects break ground on time and on budget. Section 2011 includes reform of the home investment partnership, the largest block grant program at HUD dedicated to building affordable housing. The work to remodel the home program began in the spring of this year when ranking member Clever and I jointly requested feedback from stakeholders that use the program. We got 144 submissions. We each chose 12.
▶ 0:28:09The two of us sat down and we interviewed each of those for at least 15 minutes to get a better understanding. And since then, we've put together a bipartisan product that will make this program work better to build more housing for more Americans across the country. Section 301 makes important changes for manufactured housing. It includes Congressman John Rose's extremely important bill that would remove the requirement that a manufactured house be built with a permanent chassis.
▶ 0:28:35That one change is going to enable significant growth for manufactured housing. It will reduce the cost of manufactured homes. Additionally, section 301 includes language that would ensure HUD is the primary regulator of all manufactured housing standards. Any other federal regulator that conducts rulemaking related to manufactured homes would need to get their changes cleared by HUD. There are many, many more provisions of this bill that are worth highlighting, but in the interest of time, I'll cut my remarks short.
▶ 0:29:03This bill, I think, is a historic and bipartisan product that will get to the root of the housing affordability challenges our country has experienced for the last several years. I support the bill and I urge my colleagues to vote yes. With that, I yield back.
▶ 0:29:18Mr. Chairman, I move to write the last word.
▶ 0:29:23Uh, Mr. Let me let me ask the distinguished ranking member of the subcommittee if I might call on him first. Kansas City's finest, Mr. Cleaver, thank you for being a co-sponsor of this bill. Yield you to strike the last word.
▶ 0:29:37Thank you. Strike the last word. Um, thank you, Mr. Chairman, uh, and, uh, ranking member Waters. Um, a feature of negotiation is that both sides are going to get things that they want and neither side is going to get everything they want. This is true in this negotiation between House Democrats and House Republicans.
▶ 0:30:01Uh this is true in negotiation between the Senate and the I'm a Democrat and I like many many of my Democratic colleagues would like to see increased federal investment and affordable housing. Uh one of my colleagues on the other side said that negotiating is like a vin diagram. Um very true. You put all things you want on the table. Um and then you focus on the overlap in the middle.
▶ 0:30:31Democracy demands debate and and dialogue. The housing for 21st century act is not the whole house, but it is a strong It is also the establishment of a culture and a bipartisan working relationship with this housing bill. I appreciate my counterpart, Chairman Flood, who has been working with me all year to remove legislation in the subcommittee hearings.
▶ 0:30:58I also appreciate ranking member Waters and Chairman Hill and their staff in negotiating this significant piece of legislation. It includes bills that I've worked with Chairman Flood, Representative Lawler, and Representative Rose to reform the home program, streamline section 8 program, boost manufactured housing supply, and ensure HUD accountability. And many other provisions from our members uh are uh in consideration.
▶ 0:31:27I know Representative Nun would not uh like to miss today's meeting, but he could not be here due to his attendance uh at the ceremony for the two Iowa Guardsmen who were tragically killed in Syria. He is where he should be. I thank him for his service and for his partnership with provisions to improve the rural housing service.
▶ 0:31:52Making the improvements in this bill will make the amount of money that we have uh authorized go further. Layering multiple uncoordinated programs, each with their own rules, requirements, and complexities to deliver housing is resource intensive. Uncoordinated bureaucracy harms housing.
▶ 0:32:14This bill streams lines development by updating outdated programs, removing unnecessary requirements, and increasing local flexibility. Most importantly, it will change the lives of American families in positive ways. It is my hope that we will continue to perfect this bill marked up today.
▶ 0:32:36And before the bill goes up for House floor consideration, we're always open to continue to dialogue inside this body and we will work as difficult as always uh is to work with the Senate to pass this law. God bless the Senate. Thank you, Mr. Chairman.
▶ 0:32:57Gentleman yields back. The gentleman from Ohio, Mr. Davidson, who is the chair of the subcommittee on national security, is now recognized for five Um, thank you, chairman. Last Congress, I had the opportunity to chair the housing uh and insurance subcommittee and had hoped to get this kind of progress. So, I commend uh chairman flood and uh ranking men ranking member Emanuel Clever for getting this package together.
▶ 0:33:23I frankly I commend uh chairman Hill and ranking member uh Waters for their work to come together to do this. uh we need uh this legislation to do reforms. And look, there are things that don't happen in this bill that I hope we get to. The other thing is we prevented some really bad ideas from being in this bill. And I think that's the thing that often goes unnoticed.
▶ 0:33:47We had uh some some Senate legislation that that could have come over attached to the NDAA that had a whole range of things that were just bad ideas. They're doubling down on policies that haven't worked, that still aren't working. And this bill doesn't kind of get rid of some of that kind of wasteful spending or reform it to make it more productive. But it does do things that can make a difference with federal housing. So manufactured housing is an example. There's a federal jurisdiction for that. So there's uh one standard.
▶ 0:34:17And look, we've seen administrations try to infringe that. So, and now uh we've got legislation that makes it clear that that HUD regulates manufactured housing. We've got Congressman Rose's bill that will lower the cost by making so you don't have to have a permanent chassis.
▶ 0:34:35And this increases flexibility for the kinds of manufactured housing and types of units that can be uh sold uh in the marketplace u and and still be great products and great options for lots of families.
▶ 0:34:50It does things that let banks with strong balance sheets section 303 I'm glad made the cut in the uh ANS in the amendment in nature substitute because it lets banks get u the ability to do more um public welfare housing with their own balance sheet. So you're letting private capital go to work in the marketplace. And so I I think there's a host of reforms here that are pro market.
▶ 0:35:14But I also want to commend everyone for working together to resist the temptation to say, "Well, unless we just spend more money on more of the failed programs that haven't solved the problem already, well, we don't care." This is a way to show we're trying to address the affordability crisis with things that can work. And it rightly respects local planning and zoning laws. There's a temptation in DC to feel like, well, the federal government should decide all sorts of things. and planning and zoning isn't one of them.
▶ 0:35:44And so there there are people that wanted to push bills like that. This fights off some of these bad ideas and stays focused. So, uh, I commend everyone for the work. I'd be happy to yield the balance of time to the chairman. Uh, and seeing no need, I yield back.
▶ 0:36:00Gentleman yields back. The gentleoman from New York, Miss Velasquez, who is the ranking member of the House Small Business Committee, is now recognized for five minutes.
▶ 0:36:09Thank you, Mr. Chairman. Let me begin by saying how pleased I am that we're moving forward with this legislation. All of us in this room have a responsibility to provide every American with a safe, decent, and affordable place to call home. Decades of research demonstrate that access to stable, affordable housing is foundational to improving life outcomes.
▶ 0:36:34But despite the overwhelming body of research, federal investment in affordable housing has not kept up with demand. According to recent estimates, the US has a shortage of nearly 12 million homes for rent or purchase. Today, we can begin to address this shortage. And I'm glad to say that we're doing it in a bipartisan fashion.
▶ 0:36:58While this bill is not perfect, it will meaningfully and responsibly address regulatory barriers, restricted zoning and land use requirements, shorten permitting processes, and reduce building inspection timelines. I particularly want to thank Chairman Hill and ranking member Waters for working with me on language I also to ensure cooperative housing developments can access the benefits of this bill.
▶ 0:37:29Cooperative housing provides more than 1.5 million families with financially stable housing across the US and are a critical source of affordable home ownership. My home city of New York has the country's densest concentration of housing co-ops comprising over 12% of the city's housing stock in 2024.
▶ 0:37:54Despite cooperative's vast footprint and demonstrated ra track track record in in providing affordable housing, they are often effectively excluded from federal housing programs and policies aimed at addressing housing affordability.
▶ 0:38:12Explicit recognition in this legislation will help communities, developers, and state and local policy makers access every available tool to ensure that residents are all at all income levels have access to affordable housing.
▶ 0:38:29I want to thank the chairman and ranking member for also including my language requiring monitors and receivers of PH PHA to testify and provide a written assessment to Congress on the work they have performed throughout the previous the prior year to improve struggling public housing authorities. For years, all of you have heard me speak and advocate for the needs of the New York City Housing Authority.
▶ 0:38:58A federal monitor was installed by HOT in 2018 to streamline NICHA's internal operations and improve living conditions. I know because I was in the room when that decision was made. While periodic reports from the monitor and the IG demonstrate that NICHA has made substantial progress in reducing the dangerous level of lead and mold from its units. The authority still has a significant way to go.
▶ 0:39:26But NICHA is not the only PHA under a monitor or receiver. Earlier this year, the Trump administration put the Atlantic Housing City Housing Authority in reserve ship siting failures to carry out its improvement plan. The residents of NICHA Atlantic City and all PHAS PHAS deserve better.
▶ 0:39:49Requiring annual testimony and written reports from monitors and receivers is important not to provide another layer of oversight, but to ensure Congress is working together with this individual and is providing struggling PHAS with the resources and tool they need to improve their operations and condition.
▶ 0:40:12And so while this bill makes several reforms that will reduce regulatory barriers to increase our affordable housing supply and improve accountability of our PHAS. Let me close by also saying that this bill is a much needed first step. It's not the entire answer. We must also recognize that we need substantial monetary investment in federal housing programs to ensure effective development and reconstruction of the units we need.
▶ 0:40:42I urge my colleagues to vote yes and I yield back.
▶ 0:40:46Gentleoman yields back. The gentleman from Tennessee, Mr. Rose, is now recognized for five minutes.
▶ 0:40:51Thank you, Chairman. And I want to uh commend Chairman Hill, um Housing and Insurance Subcommittee, Chairman Flood, Ranking Member Waters, and the Housing and Insurance Subcommittee Ranking Member Cleaver for their leadership in bringing this comprehensive housing package before us today.
▶ 0:41:07Last month, I was proud to introduce HR 6293, the Housing Supply Expansion Act of 2025, along with my colleagues, Housing and Insurance Subcommittee Chair Flood, Subcommittee Ranking Member Cleaver, Subcommittee Vice Chair Dea Cruz, Congressman Kareah, and Congressman Scott Peters.
▶ 0:41:27My legislation, which is included in today's bipartisan housing package, will remove a federal chassis requirement that has served to unnecessarily raise the price of manufactured housing. Since 1974, federal law has required that manufactured homes include a permanently installed chassis that allows them to be moved even after initial installation. This has significantly reduced the ability of young and lowincome families to buy their own homes.
▶ 0:41:57Removing the permanent chassis requirement for manufactured homes will lower construction cost, unlock modern design flexibility, and open far more locations for quality affordable housing. This chassis requirement has been a barrier to innovation in manufactured housing for decades. most of my life. Only five to 7% of manufactured homes are ever moved after initial delivery.
▶ 0:42:24Yet, keeping the chassis can increase home prices by about $10,000, roughly 9% of the average single section home cost. By allowing manufacturers to build homes without a permanent chassis, we enable them to use the same construction techniques and materials as sightbuilt homes. This means stronger foundations, better insulation, more flexible floor plans, and homes that can better integrate into existing neighborhoods.
▶ 0:42:53Most importantly, it means lower costs and greater design flexibility, putting home ownership within reach for families who are currently priced out of the market. Mr. Chairman, it's no secret Congress has a hard time parting with outdated statutory language. We all know how this happens. The original drafters had the best of intentions, but 50 years later, their words remain frozen in time.
▶ 0:43:18The federal manufactured housing code locks in a mandatory chassis requirement that perhaps made sense back then, but holds us back today. Outdated statutes are Congress's Achilles heel. It is this country's Achilles heel. And the Chassis statute is no exception. The house, the housing for the 21st century act gives us the chance to update a statute that everyone knows is past its prime.
▶ 0:43:46It's hard to retire this statutory relic and help modern affordable homes roll off the assembly line without the baggage of half ccentury old statutory language. And it's time to retire this. I would I would like to thank the sponsors of the housing for the 21st century act for including my chassis legislation in this landmark housing bill. Mr.
▶ 0:44:09Chairman, I ask unanimous consent to enter into the record a letter a letter from the National Apartment Association supporting the chassis legislation. Without objection, the
▶ 0:44:20Housing for the 21st Century Act represents a serious bipartisan effort to address our nation's affordable housing crisis from multiple angles. It modernizes federal housing programs like the Home Investment Partnerships Program. It also expands financing opportunities for manufactured and small dollar mortgages. What makes this bill particularly important is that it doesn't rely on any single solution. Instead, it recognizes that our housing shortage requires reforms across the entire system.
▶ 0:44:51From how we permit and build housing to how we finance it. This is the kind of comprehensive approach we need if we're serious about making home ownership and affordable and affordable rental housing accessible to more Americans. I urge my colleagues to join me in supporting the Housing for the 21st century act. And I yield back uh Mr. Mr. Chairman, the rounds of my time.
▶ 0:45:13Gentleman yields back. The gentleman from Georgia, Mr. Scott, is now recognized for five minutes.
▶ 0:45:18Thank you. Um, [clears throat] Mr. Chairman, I want to begin by recognizing something that does not happen nearly enough here in Congress. Today, we are marking up a housing bill that is truly bipartisan in both substance and spirit.
▶ 0:45:46And for that, Chairman Hill, Ranking Member Waters deserves so much credit along with you, Chairman Flood, Reverend Clever, and many others. This is an extraordinary of this financial services committee. Please pardon my cold.
▶ 0:46:13Working hard to help the American people and having served on this committee for 22 years now, I've witnessed moments when housing policy was treated as a political tool rather than a moral and economic imperative.
▶ 0:46:39But I have also seen moments like now where members on both sides come together with shared recognition that stable housing is fundamental to family security, financial opportunity, and community strength.
▶ 0:47:02So, I want to thank Chairman Hill, ranking member Waters, and you, Chairman Flood, Ranking Member Clever, and many others for this great moment in the history of this financial service And this is why I had given my strong support to it.
▶ 0:47:28And I'm proud that the underlining ANS includes my bill that was filed alongside with uh Miss Batty, Mr. Fields and others to strengthen the quality and of housing counseling services. This is so much needed.
▶ 0:47:57Our HUD approved housing counselors, they play a very key role in helping firsttime home buyers navigate the very complexing and conflicting home mortgage process.
▶ 0:48:17They assist struggling homeowners avoid foreclosure and they support families in building financial stability.
▶ 0:48:32It is owning a home that gives our people the strength to navigate so many other great outstanding services in our financial services And yet under current law, HUD's ability to evaluate housing council performance and intervene when standards are not being met
▶ 0:49:02is very limited. Lowperforming counselors may lack credit or accurate knowledge of FHA, VAA or state housing finance agency Ladies and gentlemen, this is the of the economic system of this great Owning a home opens
▶ 0:49:32up a highway of so many other things that our people can take advantage of. The impact on firsttime home buyers can also be You got borrowers out there who steer towards high cost riskier products despite qualifying for safer fixed rate governmentback options.
▶ 0:50:03The downstream consequences of this bill will be dire with elevated default rates and delinquency in just 12 to 36 months. Quality housing is needed. Thank this financial services committee and I return the balance so much I don't have any. Gentleman yields back.
▶ 0:50:33The gentleman from Pennsylvania, Mr. Muer, who is the chair of the subcommittee on Oversight and Investigations, is now recognized for five minutes.
▶ 0:50:40Thank you, Mr. Chairman. I too support and and applaud the uh the full committee and uh commend the uh the leadership for the 21st Century Act, uh including Chairman Hill, Housing Subcommittee Chair U Mike Flood, Ranking Member Maxine Waters, and Representative Clever. Housing affordability is a supply problem and federal policy has made it far too slow and expensive to build.
▶ 0:51:04President Trump working with Secretary Scott Turner has already begun fixing federal housing policy by cutting the red tape, restoring a progrowth regulatory approach and emphasizing that affordability starts with supply. That shift has helped stabilize construction inputs like lumber prices and refocus HUD on enabling housing production rather than new mandates. This bill builds on that approach, removing federal barriers so homes can actually get built faster, cheaper, and at scale without creating new federal spending.
▶ 0:51:35Today, it costs roughly $100,000 before the shovel hits the dirt. And home builders cannot economically build a new home for, many say, less than $250,000. By eliminating duplicative reviews and fixing outdated programs, this legislation directly lowers those costs. This bill modernizes outdated housing laws by improving coordination between HUD and USDA programs and updating FHA multifamily loan limits so they reflect today's construction costs.
▶ 0:52:04It also improves the usability of core community development programs like home and CDBG so local governments can deploy resources to produce housing instead of getting caught up in the blue tape. Importantly, this legislation makes it easier for veterans to access home ownership by reducing administrative barriers that delay or complicate the use of VA home loan benefits, helping veterans compete in today's tight housing market, and close on a home faster.
▶ 0:52:32For rural communities, this bill makes it easier to build manufactured modular housing, one of the most cost-effective ways to expand housing supply outside of major metro areas, while improving access for financing for these homes. As well, the bill expands access to small dollar mortgages and removes unnecessary barriers to refinancing entrylevel homes, which is critical for firsttime buyers and working families.
▶ 0:52:57At a time when the country faces a h housing shortage of roughly 4.5 million homes and we build only 1.4 million units per year, every unnecessary delay matters. Every home built generates approximately $90,000 in economic activity. It's a great multiplier and housing accounts for nearly 20% of US GDP. Lastly, this bill does not mandate zoning changes or impose federal land use decisions.
▶ 0:53:23It respects local control while removing federal obstacles that drive up costs and delay projects. If we want more housing families can afford, especially for veterans and in rural communities, we need to make it easier to build them. This bill does exactly that. So, I urge my colleagues to support the bipartisan housing for the 21st century act. And I yield back.
▶ 0:53:46Gentleman yields back. The gentleoman from Ohio, Miss Batty, who is the ranking member of the Subcommittee on National Security, is now recognized for five minutes.
▶ 0:53:55Thank you, Mr. Chairman, and let me echo all of the comments of my uh colleagues on both sides of the aisle. And certainly want to thank Chairman Heel and Ranking Member Waters and Representatives Flood and Cleaver for all of their work in HR 6644, the bipartisan housing for the 21st century.
▶ 0:54:15But let me start by saying I'd like to support the reforms uh to the housing counseling and financial literacy program act and thank all of those involved. And to you, Congressman Scott, thank you for letting me be a part of this. Uh I am proud to co-lead this standalone provision uh that Congressman David Scott and Congressman Cleo Fields have put forth.
▶ 0:54:40As co-chair of the financial literacy and wealth creation caucus, I have long advocated for housing counseling to ensure that hardworking families and firsttime home buyers have the financial skills that they need to understand their mortgage terms, to prevent foreclosures, and to maintain stable housing.
▶ 0:55:02Among other reforms, this common sense bill advances that effort by expanding foreclosure mitigation counseling through the mut mutual mortgage insurance fund to borrowers who are 30 days delinquent on their mortgage payments. Families in my home state of Ohio and across this country are facing, as we know, affordability crisis.
▶ 0:55:29struggling to put food on your tables, struggling to pay the rising cost of health care premiums to pay their bills to to keep
▶ 0:55:39uh themselves safe and to keep a safe and secure roof over their heads. And so today, we join in a bipartisan manner to pass this bill. And I'm so honored to be a part of this because for a long time uh Democrats and my colleagues have been advancing affordability and it has been a high priority and today in Congress we are taking the responsibility to give them more tools not less to weather the storm
▶ 0:56:10and that includes empowering them with vital financial literacy skill. So, I asked others to join me. And lastly, let me say I'd also like to thank ranking members Waters and Chairman Heel for working with me to include the Community Investment and Prosperity Act in this package, which I am proud to lead with Representatives Mike Lawler and Young Kim.
▶ 0:56:37This bipartisan bill expands bank's ability to make community investments that promote public welfare and [snorts] local economic development by raising the public welfare investment cap from 15 to 20%. And I'd certainly be remissed if I did not thank uh the Ohio regional banks and regional banks across this nation.
▶ 0:57:01Uh but in my hometown of Columbus, Ohio and central Ohio, I'd like to thank Key Bank, Huntington Bank, and Fifth Third uh Bank for all of their work uh on this. And this small change, members of Congress, will free up capital for historic investments in affordable housing, small businesses, and community development, delivering results for hardworking families.
▶ 0:57:27So to everyone I say thank you uh for us putting forth uh this bipartisan package and Mr. Chairman ranking members waters I yield back.
▶ 0:57:38Gentlewoman yields back. The gentleman from Indiana Mr. Stzman is now recognized for five minutes.
▶ 0:57:43Thank you Mr. Chairman. Uh first of all, I'd like to submit for the record letters of support uh for the package from Americans for Prosperity and also the National Taxpayers Union and then also a memo uh from Club for Growth. They don't endorse it, but their principles do align with it. Without
▶ 0:58:04I want to recognize that this bill [clears throat and snorts] does something that very few pieces of legislation can accomplish these days in Washington. This package does not spend a dime of taxpayers money. What it does do is put forward bipartisan common sense reforms that get big government out of the way of building new housing. And we all know there's great demand for new housing across the country. Reforms like my bipartisan streamlining rural housing act.
▶ 0:58:33Right now, rural housing projects in Indiana and across the country that utilize both HUD and USDA programs must undergo two separate environmental reviews. This duplicative process creates additional costs for developers, prolongs the construction, and deters much needed investments in affordable rural housing and at the end of the day slows down the family who would like to build a new home. It takes more time. So my bill is simple.
▶ 0:59:02It requires HUD and USDA to develop a joint environmental review process for rural housing projects so that the two reviews can become one. My bill also requires these agencies to evaluate categorical exclusions for rural housing projects that use combined funding. There's no reason why rural housing should be de delayed or cost more because of duplicative government regulations in Washington.
▶ 0:59:31So, I'm thankful to Chairman Hill, Ranking Member Waters, as well as Chairman Flood, and Ranking Member Clever for including this common sense reform in this bill. I'd also like to thank my bipartisan co-leads, conference chair Lisa Mlan and my distinguished colleagues from across the aisle, Miss Peterson and Mr. Scott, for their willingness to support this reform. And I'm proud to support the chairman's Housing for the 21st Century Act, and I would urge my colleagues to support it as well. With that, I'll yield back.
▶ 1:00:01Gentleman yields back. The gentleoman from Massachusetts, Miss Presley, is now recognized for five minutes.
▶ 1:00:11Thank you, Mr. Chair. Uh, I support this housing uh move to the last word. Gentleoman is recognized.
▶ 1:00:17I support this housing package crafted by Chair Hill, ranking member Waters, uh, and the committee staff. I thank you for including uh these two bills which are a priority of mine. The eviction helpline act and the helping more families save act in this package. I serve as a vice chair of the renters caucus which I like to think of as the pathway to home ownership caucus. Renting is an essential part of the housing journey for millions of adults throughout the country.
▶ 1:00:42And the inclusion of these bills demonstrates how Congress can both help uh renters, tenants to remain safely housed while also uh how tenants can achieve achieve the dream of home ownership. Housing is a human right. It is health. It is dignity. It is stability and community. Every single person deserves access deserves access to a quality home that they can actually afford. That's why my bills are so necessary.
▶ 1:01:11The Eviction Helpline Act requires HUD to establish and promote a national hotline so that households can receive access to the eviction related counsel they need. As the daughter of a tenants rights organizer, this bill is near and dear to my heart. And I've been fighting for this type of eviction related support since I was first elected to Congress and introduced the Help Act to support renters in my district, the Massachusetts 7th, and throughout our nation.
▶ 1:01:39Evictions are destabilizing, devastating life events for your physical health, mental well-being, financial outlook, and more. Children, women of color, and now the elderly are among those who are most impacted. Randolph, a town in my district, has a disproportionately high number of renters who are on average paying $2600 a month in rent.
▶ 1:02:05Randolph also has one of the highest eviction rates in Massachusetts, more than double the statewide average. For many, homelessness is an abstract con concept. They see the unhoused on television or pass by them in their car and would rather ignore it. But we in Congress have a responsibility, an obligation to not look away and to do something about incre in increasing um decreasing uh homelessness and its uh impact on our families and communities.
▶ 1:02:34Pregnant women facing low birth weights due to housing instability. Children in school at increased risk of illness due to unhealthy living conditions. Parents missing work to negotiate with their landlord in the court hallways. And even our elders who are part of the growing gray wave simply because they cannot find an affordable place to live. So that's why this eviction hotline is so important so that these families are not fighting alone and can know their rights.
▶ 1:03:04as tenants and get the help they need before an [snorts] eviction is even filed. Additionally, the in inclusion of the helping more families save act is an important step to supporting our lowest income families achieve stability. HUD's family self-sufficiency program has been a gamecher by creating a pathway for households that receive public assistance to gain financial stability through programming and financial literacy job training and child care.
▶ 1:03:28I'm always excited to champion this lifealtering program as a priority for urban and rural communities alike. Further, in my district, Compass Working Capital has truly innovated the family self-sufficiency program in Massachusetts to help families build wealth and move into their own homes. These bills are the type of impactful and transformative legislation that our constituents deserve, and their inclusion in this housing package is a great movement forward.
▶ 1:03:57But I believe we still need to do more. We still need to make sure we have funding for housing vouchers and legal aid attorneys. We need staff at HUD to run these programs and enforce the laws to fight discrimination. But this package is a momentous step in the right direction and I look forward to continuing to collaborate on how we can better support the people who sent us here. They deserve it. I yield back.
▶ 1:04:24Gentleoman yields back. The gentleman from Wisconsin, Mr. Style, who is the chair of the subcommittee on digital assets, financial technology, and AI, is now recognized for 5 minutes.
▶ 1:04:34Thank you very much, Mr. Chairman. Thanks for your work on this important topic. If you're watching from home, hold on to your bootstraps. Today's a big day. You're going to actually see members on both sides of the aisle work on a topic. This is like cats and dogs coming together. This is the Christmas truce of 1914. or in my home state of Wisconsin, this is like Packers and Bears able to sit down and share a beer before the big game this Saturday. Go pack. This is a really important bill.
▶ 1:05:02This is one of the most important topics we can be working on. It's about making life more affordable for families across the United States of America. Southeast Wisconsin, like across this country, we have seen housing prices increase, making it more difficult for people to move, more young couples to get into their first home. And it's a challenge across the country.
▶ 1:05:24In southeast Wisconsin, we could look over the past eight years, the average housing cost has gone up from roughly $172,000 for a single family home to about That is a huge impact on your monthly mortgage cost. And in this committee, we're coming together to say, how do we reduce the cost for families to be able to get into a home? The number one thing we can do is get the federal government out of the way, empower local decision makers, cut the red tape, and reduce the costs.
▶ 1:05:53So, we look at the studies. What's driving up the cost of housing in the United States of America? One of the biggest drivers is red tape. There was a great study that was done 2021 that came back and said 24% of the cost of a new home is from regulations. And this committee today is getting to work to those regulations to make it more accessible and more affordable for families to get into their first home.
▶ 1:06:20I'm excited my legislation with Representative Binham, a Democrat the other side of the aisle. We've come together to say let's get the red tape out of the way. Let's give a program for communities to develop pattern books. Let's give pre-approval in these communities so homebuilders can move faster, more efficiently, more effectively. This legislation is a great step forward for lowering the costs for hardworking families.
▶ 1:06:47I'm excited both sides of the aisle are able to come together today to help the American people. It's an exciting day in this committee. I look forward to voting in favor of this legislation later. Again, if you're watching from home, this is a big day. Cats and dogs are coming together, Republicans and Democrats. This could even be Bears and Packers fans sitting down together and sharing a beer. But at the end of the day, go pack. Mr. Chairman, appreciate your work. I yield back.
▶ 1:07:13Gentleman yields back. The gentleman from New York, Mr. Taus, is now recognized for five minutes.
▶ 1:07:19Thank you, Mr. Chair. As policymakers, we face a simple choice. Either we make housing scarce and expensive or we make it abundant and affordable. The Housing for 21st century act represents a decisive choice in favor of housing abundance and affordability. I'm proud to be the lead sponsor of several bills in the housing package, including legislation that advances single stair housing reform.
▶ 1:07:45Although prohibited in most state and local jurisdictions, single stair or point access block housing in mid-rise construction is the international norm and widely recognized as the best practice. The United States is an outlier in mandating two staircases, an artificial and arbitrary constraint that sharply limits the amount of affordable housing that can be built in America.
▶ 1:08:11Mandating a second staircase, as most states and localities do, makes housing more scarce and expensive. It adds hundreds of thousands of dollars to construction cost. It renders development on small and narrow lots infeasible. And it crowds out usable square footage that would otherwise be devoted to housing. Single stair housing has the potential to unlock hundreds of thousands, if not millions of new affordable homes.
▶ 1:08:39According to the Pew Charitable Trust, single stair housing can reduce construction cost by 6 to 3%. A 2024 report found that single stair reform could enable the development of 130,000 housing units in the greater Boston region alone. And a 2025 feasibility inventory identified 39,000 parcels in the city of Denver that could support single stair housing development.
▶ 1:09:08These are just a few examples of the housing abundance possibilities waiting to be realized. Single stair housing is not only cheaper, it is better, better space, better light, and better air. And so my legislation directs HUD to develop a model code for single stair housing, empowering states and localities with a modern framework for building housing that is better, cheaper, and faster.
▶ 1:09:35Single stair housing reform will carry the impimeter of the federal government at precisely the moment when the abundance movement and the YMBI movement have historic momentum behind them. As the federal government goes, so goes the On a final note, regulatory reform is a necessary but insufficient condition for solving the affordability crisis. In the end, there is no substitute for housing reinvestment. I yield back.
▶ 1:10:06Gentleman yields back. The gentleoman from Texas, Miss Da Cruz, is now recognized for five minutes.
▶ 1:10:12Thank you. Uh, Mr. Chairman, I move to strike the last word.
▶ 1:10:16Gentlewoman is recognized. I join my colleagues in strong support of the Housing for the 21st Century Act, a bipartisan bill that addresses the most pressing constraints, increasing housing prices for consumers, a lack of housing supply, and overly burdensome federal requirements.
▶ 1:10:39Our country has an affordable housing crisis driven by decades of underdevelopment that has left us over 5 million housing units short. In my community in South Texas, purchasing a home feels out of reach for many.
▶ 1:10:58The growth in home prices continues to outpace wages and housing costs continue to be the single largest expense many families have each month.
▶ 1:11:21That being said, this is an important housing um bill and while there is no magic bullet to fix decades of failed government policies. Um however, the housing for the 21st century act is a critical step putting towards putting our housing sector back on the right footing.
▶ 1:11:45I am proud to see four key provisions that I originally introduced as standalone bills included in this package. These four provisions include solutions to addressing our housing shortage, including by updating the Federal Housing Administration's mortgage insurance loan limits for residential multifamily construction.
▶ 1:12:09Uh, this simple fix will ensure our federal programs reflect the true cost of building today and will act as a catalyst to bring more homes on the market. This act also includes many key provisions of mine to ensure our nation's veterans can access the housing assistance they earned through their service.
▶ 1:12:34Specifically, this legislation would include a veterans service connected disability income from income calculations while trying to qualify for housing assistance. It would also ensure that veterans are made aware of the VA loan products they are eligible for when applying for a mortgage, further expanding housing access and affordability.
▶ 1:13:04Finally, the housing for the 21st century act ensures that all federal agencies administering housing programs, including HUD, the USDA, and the VA, better coordinate with each other to maximize the impact of our current federal housing programs.
▶ 1:13:26As a vice chair of the housing and insurance subcommittee, making housing more affordable is a key driver to my work. The housing for the 21st century act will increase housing supply and make the American dream for home ownership more attainable.
▶ 1:13:47I urge my colleagues to join me in support of this important legislation and vote yay on the housing for the 21st century act. Thank you. I yield back.
▶ 1:14:00Gentlewoman yields back. Pursuant to the previous order, the chair declares the committee in recess. Subject to call of the chair. We will reconvene immediately following votes. The committee stands in
▶ 1:55:19The committee will come to order following our voting recess. Chair recognizes the gentleman from Montana. Mr. Downing. You're recognized to strike the last word.
▶ 1:55:29Yes. I move to strike the last word.
▶ 1:55:30You're recognized for five minutes.
▶ 1:55:31Thank you, Mr. Chairman. Uh let me start by saying how happy I am that this committee has spent so much time focused on making housing more affordable. This is an issue that plagues every community in the United States. We've had numerous hearings where we've heard from many experts on why this is such a challenge and what Congress can do to fix it. Montana saw a nearly 90% increase in the median home value just over the last five-year period.
▶ 1:56:00According to the National Association of Homebuilders, every $1,000 increase in building a home in the cost of a new home prices households out of the market. Uh I'm excited about this bipartisan bipartisan legislation that targets what I strongly believe is the root cause of the lack of affordable housing.
▶ 1:56:23That's You know, I speak today in strong support of the Housing for the 21st Century Act, which streamlines the environmental reviews, reduces needless added costs on manufactured homes, and makes it easier to access federal housing programs, among many, many other improvements. Now, our sub subcommittee has also focused on how Build America by America or BABA has made increasing the supply of affordable housing more expensive with longer lead time.
▶ 1:56:52So, it's good to see that this legislation exempts home funded projects from BABA. And I hope that Congress and HUD will do even more to provide relief from BABA. BABA clearly intended for infrastructure has not only slowed new products to market, but also makes it more expensive. This legislation is a major step in the right direction, and I hope we do not take our foot off the gas, particularly when it comes to the housing needs of our tribal communities. Um, I'm very happy about this.
▶ 1:57:21I urge my colleagues to support this legislation. And with that, uh, Mr. Chair, I yield back my time.
▶ 1:57:27Gentleman yields back. Who seeks recognition? Mr. Lee.
▶ 1:57:32Mr. Chair, I strike the last word.
▶ 1:57:34The gentle woman's recognized for five
▶ 1:57:36Um, as you know, Mr. Chair, and then I know the committee here is working hard to try to come together in regards to address the housing crisis. Um, I know for me coming from the most beautiful blackest city in the country, the city of Detroit, growing up in Michigan, we lost more um black home ownership than we ever have in the history in the last recession. So, it's really important that we included um uh the housing for 21st century act to include our housing our communities bill that I'm working on uh with our leadership here.
▶ 1:58:07So many policy makers and public servants from local to state level would like nothing more than to boost supply of affordable housing, real affordable housing uh in their communities and promote equitable uh community development. But often we all know uh resources are limited and they need help and this is where the federal partnership can come. uh some would benefit from additional assistance in crafting their housing or community development plan.
▶ 1:58:32And I know Reverend Clever and I hear from many many folks in our communities that say, you know, we just need the capacity to come up with a plan, find again those investments by developers and others to do the work that's necessary to address um the housing needs. We also know that many of our residents who are living with disabilities need us to do more as well. You know, private developers, Mr. Chair, aren't cutting it, and we know that.
▶ 1:58:56And so that's where again our support of local communities and and state uh um stakeholders uh can help in developing housing that includes uh accessibility of housing for people with disabilities. That's why section 203 of the housing for 21st century act um is meant to address it directs the HUD secretary to establish a competitive grant program to support a broad array of h affordable housing planning and implementation activities. You know, Mr.
▶ 1:59:24Chair, we know this um we get to press the button for the funding, but implementation matters and that's where again the partnership happens and us helping create this grant program and making sure it's fully funded uh is going to be critical. Grants in that section um support increasing that capacity for those local communities. They'll be able to conduct more housing inspections to move uh on those development of homes. Uh for example, and so many developments are completed and leased up faster if we're able to uh do that.
▶ 1:59:53and it will help reduce uh project costs. Uh reducing such barriers can help ensure that additional housing demand results in more affordable housing being built uh instead of simply driving up housing prices. Lastly, Mr. Chair, um you know, we all know no um you know, sand and Michigan, of course, winter.
▶ 2:00:13We know my heartbreaks um uh as many of us here experience that anyone and family forced to endure bit or cold or um you know being unsheltered during again these winter months. So it will help uh address again the increase of homelessness alone in my city it's about 33% now and I believe it's much much too high especially in 2025 and we haven't been able to address it properly.
▶ 2:00:39Uh so I urge my colleagues to please uh support section 203 and provide civil servants and public maker make uh policy makers across the country um access to that capacity building and that partnership they desire on the federal level. With that Mr. Chair I yield
▶ 2:00:57gentleoman yields back seeks recognition on the amendment in nature of substitute. Seeing no other speakers we'll turn to amendments. Does anyone wish to offer an amendment to uh the bill in the nature of a substitute?
▶ 2:10:53I'm going to uh let me recognize the ranking member for a motion.
▶ 2:11:00Uh Mr. Chairman, I respectfully request uh that the amendment that was just spoken to be withdrawn
▶ 2:11:07without objection. Uh and we'll await an additional amendment.
▶ 2:11:13Yes. Uh I have an amendment at the desk.
▶ 2:11:18We'll pause. The ranking member has an amendment at the desk. We're going to pause for it to be distributed.
▶ 2:11:26Mr. Chairman, I reserve a point of The general uh gentleman from Mr. Nebraska has reserved a point of order. Thank you. Mr. Nebraska, I know he wants to be known as Mr. Nebraska.
▶ 2:11:39Those are the talking points.
▶ 2:11:41These are the talking points that go with that.
▶ 2:12:23All right, Mr. Clerk. Uh, you would report the amendment uh from the ranking member. [clears throat]
▶ 2:12:34An amendment to the amendment in the nature of a substitute to HR6644 offered by Miss Waters of California designated as Waters 118. Without objection, the amendment is considered read and the gentleoman from California is now recognized for five minutes to describe her amendment.
▶ 2:12:53Thank you very much, Mr. Chairman. The affordable housing crisis has reached a breaking point. An incremental action alone will not meet the scale of the challenge before us. Families across the country are struggling to afford rent, buy a home, or remain stably housed.
▶ 2:13:12and Congress has the responsibility to respond while the housing for the 21st century act uh takes an important step towards modernizing and streamlining uh streamlining housing programs. It must be matched with significant investments to deliver real results in creating more homes. My amendment would do just that. For decades, federal housing pro housing programs have been chronically underfunded.
▶ 2:13:42Even as housing costs have risen and homelessness have skyrocketed, we have asked these programs to do more with less for far too long and the consequences are visible in every community.
▶ 2:13:58That is why I have consistently called for bold federal investment in housing, including through my bills, the Housing Crisis Response Act, the Ending Homelessness Act, and the Down Payment Toward Equity Act.
▶ 2:14:15The Housing Response Act would invest more than 150 billion in fair and affordable housing and create nearly 1.4 4 million new affordable and accessible homes and reduce housing costs for all. The Ending Homelessness Act would end homelessness and significantly reduce poverty by transforming the housing choice.
▶ 2:14:43voucher program into a federal entitlement. And the down payment toward equity act would help revive the dream of home ownership for all and help address the racial wealth gap by providing 100 billion dollar in direct assistance to help firsttime first generation home buyers cover down payments, closing costs, and buy down mortgage interest rates.
▶ 2:15:11Together, all of these bills represent the single largest most comprehensive investment in affordable housing history and would end homelessness, boost the affordable housing supply, and restore the American dream of home ownership. And so, uh, Mr. Chairman and members, I am pleased to be working with you today in a bipartisan way.
▶ 2:15:37But the hard work that we have put into all of the bills that I've just identified is work uh that we believe strongly in. And while this in, you know, our estimation, what we're doing today in a bipartisan way is kind of a first step and we're clearing the way in a lot of regulation and other kinds of things that will help us get to the point where we get the funds that are necessary
▶ 2:16:07in order to do what we all want to do. And so, while I bring this up, it's a reminder. It's a reminder of what we care about, what we've worked for, what we believe in, and what we think we need to end homelessness, for example, forever to help young people, and on and on and on.
▶ 2:16:27And so, I just want to remind everyone that we have not forgotten uh about our approach to dealing with housing and all of the housing issues. uh we're working today in a bipartisan way to really get started down that path. And so we appreciate the opportunity uh that you have helped to afford uh with this bipartisan effort that we're doing.
▶ 2:16:53But we will never forget and we don't want you guys to forget uh that we still believe uh that in order to do what we all want to do both for rural and urban areas, we're going to have to spend money at some point. And maybe at the time that we get rid of some of the obstacles in the way of getting to where we want to go, we'll be ready to do what is necessary. I yield back the balance of my time.
▶ 2:17:22Gentlewoman yields back. Does the gentleman from Nebraska insist on his point of order?
▶ 2:17:26I'd like to withdraw that, Mr. Chairman.
▶ 2:17:28Very good. Is there further uh debate on Mrs. Waters amendment?
▶ 2:17:32I move to strike the last word.
▶ 2:17:34The gentleman from Nebraska is
▶ 2:17:36Thank you, Mr. Chairman. I certainly respect the sentiment behind this amendment. Uh unfortunately, I have to oppose it. As it stands, this legislation is delicately negotiated and it's been a project that both Republicans and Democrats could come together on. While we must be mindful that any changes we make to the bill must maintain the legislation's viability on the House floor. Adding this new spending would uh make it much harder to be successful on the House floor this Congress.
▶ 2:18:03Furthermore, we all know that ultimately the decision of how to fund any priorities in our committee uh does not lie with us, but it does lie with the appropriations committee. As authorizers, we have worked hard to find bipartisan compromise on the substantive policy issues within this bill. Um let's stick with the good work we have and work on this in a bipartisan way. Unfortunately, I can't support this amendment. I yield back.
▶ 2:18:27Flood yields back. Who seeks recognition on Mrs. Waters amendment? of the gentleman from North Carolina. You're recognized to strike the last
▶ 2:18:36Thank you, Mr. Chairman. Um I too join U Representative Flood in opposing this amendment, but uh really want to talk more broadly about this bill and what it does that is that that should be embraced in a fully bipartisan way. The Housing for the 21st century act addresses, you know, one of the most serious challenges facing families all across this country and that is simply the lack of affordable housing. Uh for years, housing supply has failed to keep pace with demand.
▶ 2:19:03Rising construction costs, regulatory delays, and outdated federal standards have made it slower and more expensive to build homes. As a result, the supply has been constrained. Prices have risen and working families have been left with fewer options. These challenges are especially pressing in fast growing states like my home state of North Carolina, where the population growth has only intensified the disparity between supply and demand. Rather than imposing new federal mandates, this bill takes a smarter approach.
▶ 2:19:31It removes unnecessary barriers uh to housing production and it gives states and local governments greater flexibility to expand supply in ways that reflect local needs. The Housing for the 21st Century Act directly addresses regulatory inefficiencies that delay construction that increase cost uh by does so by streamlining federal environmental review requirements and modernizing federal standards that no longer reflect today's uh modern building practices.
▶ 2:19:58These reforms will shorten the permitting timelines and they will also directly lower the perunit construction costs. The bill also embraces innovation, partic particularly when it comes to manufactured and factory-built housing. You can ride down the road and you can see now where a lot of the construction so many things are pre-fabricated that arrive on scene and there and are able to be installed efficiently just as well as stick belt in those cases added to the home.
▶ 2:20:23Uh and but current regulations don't fully envision that and and you keep up with that. Uh but these homes ultimately can be delivered more quickly. they can have a lower cost and by getting rid of these outdated provisions. Uh it also gets rid of that and it also reduces some of the financial barriers that have limited their potential. By modernizing these standards, this bill will help increase the production of affordable housing without sacrificing quality or safety. And that's one thing I got to say to Congressman Flood.
▶ 2:20:53He's done a good job of balancing that, making sure that, you know, it's not just about having it cheap. It's about having it affordable, but at the same time, good quality for these home buyers. You know, ultimately, affordability is going to require that more homes be built faster at lower cost and across a range of housing types. This bill reflects this reality. It's it's it's one, you know, it's great, Mr. Chairman, when we can say there's something that we're doing that's p that's pragmatic, it's bipartisan, and it's actually focused on results.
▶ 2:21:22One of the things that I hear more and more when I'm back in my district, I'm sure most folks sitting this room here, are how expensive things are, particularly related to to wage growth. Um, and we've seen finally wages coming up now. Wages are coming up now higher than inflation, which was not the case four years ago.
▶ 2:21:41And so changes like this, like this bill that make home ownership more affordable, update, you know, old, you know, old policies that simply aren't aren't keeping up with the times and do it in a way that allows more Americans to own a home or what we should be doing.
▶ 2:21:58Um there are those who try to and and renting is is is certainly a good option for a lot of folks and and there there's a what you have right now is a situation across the country where folks are having trouble with a number of things including coming up by the way with the down payment. Right? That's a real barrier for a lot of new home buyers. And so folks often are paying as much in rent as they would to buy a house and then they're of course not getting any equity by paying rent.
▶ 2:22:25This bill recognizes an opportunity to shift that to allow for more Americans to realize the dream and the goal of home ownership and just really applaud the opportunity. Proud to proud to be a co-sponsor of this bill and really looking forward to seeing this bill passed today and passed on the floor. And with that, Mr. Chairman, I yield
▶ 2:22:43The gentleman yields back. Who seeks recognition on Mr. Waters amendment? I'll recognize myself. Oh, Mr. Torres, let me recognize you to strike the last
▶ 2:22:54I just want to echo support for uh ranking member Waters. Um know obviously regulatory reform has a place, but in the end there's no substitute for federal reinvestment in housing. And I strongly disagree with my colleagues who denigrate the role that the government plays in creating and preserving affordable housing.
▶ 2:23:15You know, during the post-war period, it was federal investment that led to the greatest creation of the middle class and mass home ownership that our country's ever seen. And so, the federal government has a proven track record of creating housing for the middle class, for the working class, and we need to revive that robust federal role in the 21st century. So, let's not create a false choice where one need not exist.
▶ 2:23:44we can have both reasonable regulatory reform and federal reinvestment in housing. Uh and in that spirit, I just want to echo my support for the amendment from ranking member Waters. I yield back.
▶ 2:23:57Gentleman from New York yields back. The gentleman from Texas recognized the strike to last word.
▶ 2:24:03Thank you, Mr. Chairman. I thank the ranking member as well, especially thank her for the legislation that she has proposed. Um, homelessness in my city is apparent. Uh, right outside my congressional office, we have people who are living under the overpass and we want to do what we can to help them.
▶ 2:24:23But we also have the problem of homelessness as it relates to young people who are trying to become firsttime homeowners, who are trying to build a life for themselves, build some assets and equity. uh these young persons are depending on us to help them uh get that first home so that they can become taxpayers who build neighborhoods and make a difference in the lives of themselves and other people.
▶ 2:24:52I would also add that this piece of legislation is important because it provides more than deregulation. While I think that there is some need for degree of deregulation, I do not concur with the notion that deregulation alone is a panacea for the problems associated with homelessness.
▶ 2:25:15I do believe that there has to be some imalument accorded such that we can fill in the gaps where deregulation is not enough. Uh there will have to be some land purchases. There will have to be some opportunity for persons to have some sort of subsidized help. We have subsid sub subsidized oil companies for years and years. Uh we've subsidized auto manufacturers.
▶ 2:25:43Uh it's time for us to do something to help people become a part of what we consider the American dream, which is home ownership. So, Madame Ranking member, I'm proud to support what you have offered. Uh my hope is that we can have other colleagues to understand the role that the federal government has to play in this process and it is a role that is uh vital. It's important and without it I'm not sure that we'll be able to achieve our goals.
▶ 2:26:13I think we're all doing what we believe to be the best approach, but I don't think that an approach that is void of some monetary help is going to be the most successful approach. I support what you're doing and I would yield time to you if you desire some additional time. I would yield to you if you desire some additional time.
▶ 2:26:43Thank you very much, Mr. Green. I understand uh how much time and effort you've put into dealing with homelessness, and I'm very impressed with some of the work that was done in Houston uh to show that uh with resources, you can uh um you know, take this problem and have some successes with it. And so again, as uh I have tried to articulate, uh this is a beginning.
▶ 2:27:13This is a bipartisan effort uh that I strongly support. Uh at I took the opportunity uh to help people to remember uh what we have been advocating for and what we believe it takes in the final analysis to end homelessness, for example, forever. So I thank you uh for your cooperation. I thank you for the work that you've put into dealing with the housing issues in general.
▶ 2:27:40And with that, I yield back to you.
▶ 2:27:44Thank you, uh, Madame Ranking member. And let me remind people that a good many of the persons that we seek to help are persons who are associated with our military as veterans. We have veterans now who are in need of some assistance. They've been getting assistance by by and through the VA, but there are good many of them now with children who are in need of some help. They are the next generation of homeowners.
▶ 2:28:11So, let's not let's not allow this to become [clears throat] only a genesis. Let's move forward to the revelations necessary to make this more than an ideal. Uh let's make it real for people who are in need of some real help when it comes to home ownership. we can do it. Uh I support what the ranking member has done to uh give us this first step and I'm prepared to help take the necessary steps that can make a difference along the way.
▶ 2:28:40I thank you and I yield back.
▶ 2:28:43Miss Pennington.
▶ 2:28:45Thank you, Ranking Member.
▶ 2:28:48Oh, sorry.
▶ 2:28:49The gentleoman from Colorado is recognized to strike the last word.
▶ 2:28:52Thank you, Mr. Chairman. I move to strike the last word. I thank you to ranking member Waters for all you have done to on your work to address the housing crisis in Colorado. It is absolutely the number one pain point that I hear no matter where I go.
▶ 2:29:10I I'm incredibly proud that we're able to come to the table and and bring some bipartisan solutions here, but the ranking members amendment does the bold investments that are needed for our long the long-term change. It is going to increase the housing supply. Uh for all of you who have been here for years, you know that unfortunately investing in housing has not been a priority since the '9s.
▶ 2:29:38Many of the housing investments that were made decades ago are now coming on up for sale. So, it is about to get significantly worse. When I think about how difficult it was when I was younger, when I was I, you know, struggling to make ends meet, to afford rent, the opportunity that I eventually had to buy a home, uh, it was right before the the housing crisis.
▶ 2:30:03I was one of the lucky ones that was able to get in into a home, the mortgage crisis, and it is the only reason that we have have have any wealth and stability, that our uh we're not going with continuous increase in rent, that my family is going to have a place to live. And when I think about what young people are facing now, they don't even believe that they will ever have the opportunity to own a home. That is a a key piece of the American dream.
▶ 2:30:34The ability to buy a home, build your family, have generational wealth, and the housing supply has not kept up pace. And and the reason why is the mortgage failure in after the the crisis decades ago and the homebuilders that were taken out. But it is substantially because we have not made the investments, the bold investments needed at the federal level. We need to meet this at every level.
▶ 2:31:04This is an incredibly complicated issue and I think that you've heard that over and over today with what we need to address this. It is streamlining process. It's bringing incentives for the business community for investment. It's uh trying to bring some carrots for local municipalities to do the right thing and and make sure that they don't have barriers in place for housing supply.
▶ 2:31:26Um but there is so much more that we need to do for the investments to start making an impact to increase the supply for the people who need it most. And so I just want to thank uh the ranking member for all of your work prioritizing this issue. I know that it is far from over in this fight. I it is why I asked to be on this committee. It is the most important thing for my community is making sure that people can afford to put a roof over their head.
▶ 2:31:57Uh and so with that, um the ranking member if I don't know if you would like to say anything, but I would like to yield. She opened. Thank you very much, Miss Pennington. I appreciate uh the work that you have put in on housing.
▶ 2:32:21Uh from the minute you started on this committee, uh you let it be known what your priorities are and housing has certainly been your top priority. So, thank you for the work that you've put in. And of course, we both know uh that this bill is kind of a beginning uh to get us to the point where we can be more comprehensive with more resources uh to deal with some of those issues that are going to require appropriations.
▶ 2:32:52But today we're in a bipartisan effort uh that we're working with the opposite side of the aisle and it's a great start and it's a good bill and uh I thank you for your support uh on what we're attempting to get done here today. With that, I yield back uh the balance of my
▶ 2:33:12The gentleman gentleoman has yielded back to you. Miss Person, do you yield
▶ 2:33:17Uh thank you uh Mr. Chairman. I yield back. The gentleoman yields back uh who seeks recognition. The gentleoman from Ohio, Miss Beta, you're recognized to strike the last word.
▶ 2:33:27Move to strike the last word.
▶ 2:33:28You're recognized for five minutes.
▶ 2:33:30Thank you so much, Mr. uh Chairman, and to ranking member Waters. Uh certainly, it would be easy for me to just say I echo all the words of of my colleagues, but I want to do a little more because when I think about what Congresswoman Peterson just said, this bill addresses things at every level. When I think about what Congressman Green said when he talked about homelessness, but what I want to say to you, Mr.
▶ 2:33:58chairman and to my colleagues on the other side. When we're looking at a bipartisan package, we all know we have to do more. But I don't know any person who has done more, written more, advocated more, and put a funding package up consistently to make sure that those who are across this wonderful nation that we live in will understand that in the work that Congresswoman Waters
▶ 2:34:28has done, she's talked about affordable home creation, funding for construction purposes, and rehabilitation. in rental and home ownership, not just in her district, but I am comfortable in saying for every member, Democrat or Republican, suburban, urban or rural America, it touches those lives.
▶ 2:34:53We can talk about housing vouchers and the work that she's done and the dollars that she's recommended. We can talk about public housing repair to make sure that all of us can put a roof over our head. And yes, we could talk about home ownership. And I know I'm not the only person sitting in this committee that can remember the first time I signed those papers, FHA, for home ownership.
▶ 2:35:22And I'm also old enough to know when my father worked three jobs so he could put a roof over our head and buy a home that there was something called red lining and we couldn't have that home or dream simply because of the color of his skin.
▶ 2:35:39But he worked for a good Republican and that Republican went to the bank with my father and because he was a wellknown person who my father had built his brick barbecue pit went and signed the papers so we could move out of where we lived into a integrated neighborhood.
▶ 2:36:03And at that time, home ownership was so important because the schools you were allowed to go to dependent on dependent on where you could live. That's right.
▶ 2:36:15And we were able to go to that school. And believe it or not, that had current books. We weren't asking for a lot. But the schools we were in before, they were outdated. We did not have a laboratory where we could study science and where we could have advanced math. But it was because of a Republican and a Democrat going together and allowing my father to be able to go to the bank and buy that home.
▶ 2:36:45And then there is homelessness. Far too many people are living on the streets. So when you look at this package, this funding package, this package not only is an amendment, it is inclusive of almost the life work that our ranking member has done. And lastly, let me say as a young professional, housing was one of the most important things that I wanted to do.
▶ 2:37:15And I worked for the Dayton Metropolitan Public Housing Authority. And that allowed me then a decade later to get HUD contracts. And right before coming to the Congress and working at the Ohio State University, I was a consultant for HUD. And when I read your packet, Congresswoman Waters, it reminds me of the life work that so many of us has done have done.
▶ 2:37:44So I ask my colleagues to look at this and reconsider and support the work of Congresswoman Waters. And I yield back if the Congresswoman would like to say
▶ 2:37:58Well, I want to thank you, uh, Miss
▶ 2:38:01And um I know of your work before you ever got elected to the House of Representatives. And I know that you've been involved with housing. Uh you've been involved with assistance to the least of these uh in our society. I know that you have worked not only on you know the development of housing and with public housing.
▶ 2:38:29you've worked with financial institutions to encourage them uh for to to make loans available uh to those who have been left out. And so we could go on with this, but I think hearing from our members on this side of the aisle helps you to know we're committed uh to this bipartisan bill, but we are committed to continuing to work to strengthen our ability to do everything that we want to do for housing in this country. I yield back.
▶ 2:38:59Gentleoman's time has expired. Uh who seeks recognition. I'll recognize myself for five minutes to uh discuss uh Mrs. Waters amendments amendment. Ranking member as she evidenced this morning has been for decades a tireless advocate for housing housing access particularly for the neediest in our society.
▶ 2:39:24And as a leg up, as Miss Batty just demonstrated, how important it is for not only people to have adequate, clean, safe, sanitary housing, period, full stop, but also what an incredible ticket that is to advancement for a family. And Mrs. Waters has been uh one of the leading, if not the leading advocate for that during her time here in this house.
▶ 2:39:47also want to thank her for her work with me in recent weeks as we attempted to uh maintain the houses's equities and the US House's priorities on housing as we debated the national defense authorization bill where we could work together in this house in this uh committee to draft our own priorities that are bipartisan priorities on housing so that we could let our members participate in this process have their ideas uh brought to life,
▶ 2:40:18debated uh and attempt to craft what is a a bipartisan package. And this package, I think, has some important components that address some of the concerns that uh the ranking member mentioned uh on her broad 170page amendment that she proposed. U for example, Mr. Flood's home program reforms that he worked on with Mr.
▶ 2:40:43Cleaver uh in section 2011 of our bipartisan bill offers really I think advancement to using home funds to construct new units at a lower perunit cost. One of the goals of this bill in section 202 of the bill that Mr. Flood also authored here and Senator Todd Young has a companion bill in the Senate.
▶ 2:41:05It mobilizes CDBG funds uh for use in rehabilitation or housing and including an issue that I know is important to both the ranking member and me which is mobilizing action on vacant land inside particularly our urban areas.
▶ 2:41:25The bill also has a increase in the percentage that she noted in her opening statement on public welfare welfare investing on behalf of our depository institutions that will mobilize billions of private sector dollars into our communities for uh uh environment of constructing new housing. and to uh Miss Person's viewpoint from Colorado.
▶ 2:41:51I I gave an interview this morning to Colorado radio about this bill and the importance of this bill. And I cited the governor of Colorado, our former colleague here in this house uh who has led the way along with Texas and some other states of trying to break down some of these local zoning barriers that are so frustrating to opening up new forms of housing.
▶ 2:42:14Uh so I want to thank the gentleoman for her amendment, but I have to oppose it because I think we've tackled uh not only a deregulatory aspect of the bill that Mr. Green referenced, but we've tackled mobilizing private investment that will produce more units and hopefully at a lower cost through our bipartisan priorities in this bill. So I will uh yield back uh the balance of my time, but I I thank the gentleoman for her amendment, but I need to oppose it. I seek recognition.
▶ 2:42:45Uh the general uh ranking members
▶ 2:42:47Uh thank you very much, Mr. Chairman. I appreciate your statement uh that you just made. Um I appreciate the debate uh that we've been able to have and I move to withdraw this amendment.
▶ 2:43:00Without objection, amendment be withdrawn. Would you yield me a moment?
▶ 2:43:04I yield to you.
▶ 2:43:04Let me let me thank you again for the work on the bipartisan effort. And I want to say all of us on a bipartisan basis. We know what our young people are uh dealing with on rents in urban areas. Uh I am pleased to see as the gentleman from North Carolina noted that real wages are now growing faster than uh cost. That's good. We're all grateful for that.
▶ 2:43:28But we know we have this embedded battle of the cost level that we're all trying to tackle through this work on a bipartisan basis. And uh Miss Peterson talked about that in her comments as well. I remember vividly trying to buy my first house in 1986 and the 30-year mortgage rate that year was And so I want, you know, you and I can empathize with our young people in what they're confronting, but if you were a
▶ 2:43:58young person in the late 1970s and early all the 1980s, you confronted something very similar, which was low demand, I mean, high demand, baby boomers, low supply, and high mortgage rates and high costs. So, I want those listening to this debate to understand that we have walked in the shoes of this uh challenge and we're here to work together to to fight to bring down those per unit costs.
▶ 2:44:25Um, and one of my inspirations for this bill is the 1981 report. This was President Reagan's report on housing. And some of the actual bills that we'll be supporting in our bipartisan bill today were recommended in 1981. What's wrong with this place around here? You know, but u I appreciate the gentleoman for withdrawing her amendment and letting me respond and I yield back to her.
▶ 2:44:55Mr. Chairman, um as I've indicated, um I appreciate the debate and move to withdraw the amendment. Thank you. Without object without objection, the amendments withdrawn. Are there additional amendments to the 21st century housing act? Who seeks recognition with an amendment?
▶ 2:45:14Green from Texas.
▶ 2:45:15Uh the gentleman from Texas has an amendment. We'll pause while that's
▶ 2:45:21Mr. Chairman,
▶ 2:45:24I reserve the point of order.
▶ 2:45:25The gentleman from Nebraska reserves a point of order. Thank you. Thank you.
▶ 2:46:26clerk will report the amendment, please.
▶ 2:46:31An amendment to the amendment in the nature of a substitute to HR664.
▶ 2:46:35Chairman, I ask that the amendment be considered as read. The amendment is was considered as read and Mr. recognized for five minutes to describe your amendment.
▶ 2:46:45Thank you, Mr. Chairman. As I strike the last word, I'd like to announce that this is the Reforming Disaster Recovery Act amendment to HR6644. And I'm proud to say that Miss Wagner and I have worked on this for a number of years. In fact, it passed the House on November 18th of 2019 in the 116th Congress. 290 to 118 votes.
▶ 2:47:10This amendment, I believe, is going to be very helpful in terms of codifying what we typically do when we have a disaster, and that is reinvent the wheel. This amendment permanently authorizes the community development block grant disaster relief, that is a CDBGDR program, and establishes a community disaster assistance fund for HUD to administer the CDBG program.
▶ 2:47:36The amendment would require states to prioritize activities that help extremely low low and moderate income survivors of disasters to recover to address pre and post disaster housing needs and to prepare for future It requires that 70% of the recovery funds benefit low and moderate income people and provide clearer directions
▶ 2:48:07to the Department of Housing and Urban Development, HUD, on when it can adjust this requirement. It allows all federal agencies involved in recovery efforts to access the full breadth of data needed to make informed public policy decisions, allow greater public participation in disaster recovery efforts.
▶ 2:48:30And it helps public and private entities better recognize gaps in services and identify reforms needed for future disaster recovery efforts. It ensures that state action plans receive at least 14 days of public comment and requires states to engage with residents of the most impacted and distressed It further
▶ 2:49:00requires that states uh to include detailed plans outlining how they will use CDBGDR funds to serve low and moderate income households and how these dollars will address relief, resiliency, long-term recovery, restoration of housing and infrastructure in the most impacted and distressed areas.
▶ 2:49:28This amendment will help protect fundamental civil rights and fair housing rights and ensure that all communities and community members regardless of race, disability, sex, age, color, religion, familiar status, national origin, and other protected classes receive full access to disaster recovery resources free from
▶ 2:49:58And finally, it requires uh state and local governments to certify that funds will be administered in compliance with fair housing and civil rights laws. I believe this amendment can make a difference in the lives of people who are suffering after some of the disasters that we find ourselves having to cope with across the country, not just along the Gulf Coast.
▶ 2:50:23Uh we of course along the Gulf Coast deal with the hurricanes but out west we have the fires and of course we have the tornatic activity. Uh we need to provide a codified methodology by which persons who are in need of help can receive that help expeditiously. We should not have to reinvent the wheel after each and every uh disaster that takes place.
▶ 2:50:49uh it's time to codify so that we can uh help persons in a meaningful and significant way without having to wait for the codification process to develop as we currently do. So, Mr. Chairman, uh I want to thank you for the uh conversations that you and I have had. I want to thank Miss Wagner as well. And uh at this time, I'm going to withdraw the amendment. And if you would like to engage in a colloquy, I would be more than honored to receive your
▶ 2:51:20I think that would be good. Let me say that I want to work with you on this topic because you've outlined two things that are key. One, that we reinvent this after each storm. Two, that there's a lot of accountability problems that we saw after Hurricane Katrina that that that ranking member and former chairman Hinchling particularly noted. and this needs to be authorized and done in a a way that has bipartisan support. So you I'm happy to work constructively with you on this concept.
▶ 2:51:50I thank you and I thank the ranking member as well and the staff for helping us to pull this together. Thank
▶ 2:51:56The gentleman withdraws without Who seeks recognition for an additional amendment to the 21st century housing Gentleoman from Ohio. You're recognized. The gentleman has an amendment at the desk. We'll pause while that's Uh, Mr. Flood. Mr.
▶ 2:52:25Chairman, I reserve a point of order.
▶ 2:52:26Gentleman reserves a point of order. Thank you.
▶ 2:53:06The clerk will report the amendment. An amendment to the amendment in the nature of a substitute to HR6644 offered by Miss Batty of Ohio designated as
▶ 2:53:18Without objection, the amendment is considered read and the gentleman from gentleoman from Ohio is now recognized for five minutes to explain her
▶ 2:53:25Thank you, Mr. Chairman and thank you ranking member. Uh, this amendment that just has been referenced would add provisions from my biccameal bill HR 2031, the home investment partnership reauthorization and improvement act to this housing package.
▶ 2:53:42Although this package includes several reforms from the Home Reform Act led by Chairman Flood and Ranking Member Clever, my amendment goes further to make additional improvements to increase the flexibility and the compliance for program participants. As you know, home is the largest federal block grant to state and local governments that is designed exclusively to create affordable housing for lowincome and extremely lowincome households.
▶ 2:54:12I know I speak for Ohio and many other states in saying that this gap funding and the efficient operations of this federal program is so vital to increase the supply to affordable housing.
▶ 2:54:26In addition to a number of technical fixes to the home statute to ensure that funding is being spent appropriately, my amendment makes substance substantive improvements to ease compliance for small properties and to increase flexibility for not forprofits that create and provide lowincome housing. Let me just give you an example.
▶ 2:54:49My amendment offers targeted regulatory flexibility for owners of small properties with four or less units. That's four or less units to help them successfully be able to participate in this program.
▶ 2:55:04It also revises the definition of the community land trust to properly capture the variety of ways that the community land trust model has been structured and developed by housing not forprofits across this whole country. Adoption, Mr.
▶ 2:55:23chairman and ranking member of my amendment and passage of today's bipartisan housing package is so very critical and certainly we've heard from members on both sides of the aisle and that it's long overdue.
▶ 2:55:37It is the first step in our efforts to address the nationwide housing crisis and and I am grateful to Chairman Hill and Ranking Member Waters, Chairman Flood, Ranking Member Cleaver for working with me and my staff to include these key reforms in this housing package. Uh, however, I will note that much more work must be done to meet the demands for safe, for secure, affordable housing across the the country.
▶ 2:56:06And lastly, let me just say my home bill HR 2031 was included was included nearly in its entirety in the Senate road to housing package this past summer and contains far more common sense fixes that makes it easier to deploy home funds in red and blue districts alike.
▶ 2:56:29So, as we advance today's housing measures to the floor and to look to merge the two chambers bills, we must leave no stone unturned in our efforts to meet the needs of lowincome families struggling today to just simply keep a roof over their heads. So, again, I'd like to thank our leadership. I'd like to thank the bipartisan effort of all the members on this committee.
▶ 2:56:56And I certainly urge my colleagues to support my amendment and I yield back.
▶ 2:57:01Gentlewoman yields back. Does the gentleman from Nebraska insist on his point of order?
▶ 2:57:08Gentleman uh withdraws his point of order. Uh gentleman from Nebraska. Are you seeking recognition?
▶ 2:57:14I would move to strike the last word.
▶ 2:57:16Gentleman from Nebraska is recognized for five minutes.
▶ 2:57:19Thank you, Mr. Chairman. I want to thank the gentleoman from Ohio, Miss Batty, for her amendment. We have worked with her and her team over the last several days to find common ground between her home investment partnership program bill and the one that ranking member Cleaver and I introduced earlier this fall. This amendment is the product of that collaboration. I support the amendment and urge its adoption.
▶ 2:57:40Miss Batty's amendment would update the definition of community land trust under the statute, create a tailored set of tenant requirements for smaller rental properties, and make other technical and conforming changes that are all additive to the claims of this package and of the home reform act. I want to thank Miss Batty for her hard work and for her passion for the home investment partnership program. I'm glad to see that we were able to come together to find a unified position on the home program between our respective bills. Again, I support the amendment offered by Miss Batty and I yield back to the
▶ 2:58:11The the gentleman yields back. Who seeks recognition? The ranking member of the full committee, Miss Waters, you're
▶ 2:58:16I move to strike the last word.
▶ 2:58:17You're recognized for five minutes.
▶ 2:58:19Thank you, Miss Batty, uh, for offering this important amendment, which reflects her longstanding call for reform and her deep understanding of how the home program must evolve to meet today's housing challenges. For years, Miss Batty has pressed Congress to ensure that the home program works better uh for uh communities, and I appreciate her continued leadership.
▶ 2:58:46This amendment makes several necessary updates to the program. It explicitly recognizes community land trust as eligible recipients of home funds, acknowledging their proven role in preserving long-term affordability, stabilizing neighborhoods, and preventing displacement by keeping housing permanently affordable.
▶ 2:59:11These changes ensure the home program can respond to the realities on the ground and remain a vital tool in addressing our nation's affordable housing crisis. So, I want to thank Chairman Hill and Flood and Ranking Member Clever for working collaboratively on merging these two important pieces of legislation that reform the home program.
▶ 2:59:36Together, it will promote and streamline affordable housing development and preservation [clears throat] for American families to come. And so, I absolutely urge members to support this amendment. And again, I thank Miss Batty for the attention that you have paid to the home program for so long. And I'm hopeful uh that we can get support for this amendment.
▶ 3:00:02General yields back, seeks recognition. Let me I'll recognize myself for five minutes on the Batty amendment. I want to add my thanks to Miss Batty for her passion on reform to the the home program. Uh her work collaboratively with Mr. Clever and Mr. Flood is making the uh our bill a better outcome and we're grateful to that and I appreciate Mr. Flood's acceptance of Mr. Miss Batty's amendment.
▶ 3:00:30So um uh we will agree to that amendment and I will yield back balance of my
▶ 3:00:40Is there further debate on the Batty All those in favor of the amendment so signify by saying I. I. Any opposed signify by saying nay. In the opinion of the chair the eyes have it. The eyes have it and the amendment is adopted. We'll now move to the next amendment on the 21st century housing act.
▶ 3:01:03Mr. Chair, I have an amendment at the
▶ 3:01:05Mr. Torres has an amendment at the desk. We'll pause for it to be distributed.
▶ 3:01:11Mr. Chair, I I reserve a point of order.
▶ 3:01:13Uh Mr. Flood reserves a point of order. Thank you.
▶ 3:01:46Thank you. We'll report the amendment.
▶ 3:02:04An amendment to the amendment in the nature of a substitute to HR6644 offered by Mr. Torres of New York designated as tour NY127.
▶ 3:02:14The amendment will be considered read and the gentleman from New York, you're recognized for five minutes to describe your amendment.
▶ 3:02:22Thank you, Mr. Chair. My amendment represents a simple but substantial improvement. It raises the height limit for point access block buildings from five stories to six stories in order to enable the construction of more housing without compromising safety. A six-story height limit for single stair housing is consistent with international norms and strikes the optimal balance between cost efficiency and safety.
▶ 3:02:47Congress must have a laser sharp focus on removing any and all arbitrary constraints on the ability to produce and preserve affordable housing. My amendment makes my proabundance legislation even more proabundance. When it comes to housing, the more the merrier. I yield back.
▶ 3:03:04Would the gentleman yield?
▶ 3:03:08Well, you insist on your point. No, no, no. Mr. Mr. Torres, will you yield to me, please?
▶ 3:03:15I yield back.
▶ 3:03:16Would you yield to me, please?
▶ 3:03:18I yield. I happily yield to the chair.
▶ 3:03:20That's my friend.
▶ 3:03:23Thank you very much, Mr. Torres. Uh let me thank you for your amendment. The majority finds it elevating uh and um something that we are appreciative of your thoughtful work on this and the common sense approach and that it fully meets building standards and that would strengthen the bill in a modest way and and I'm happy on behalf of the majority to accept your amendment. Uh and I yield back to Mr. Torres.
▶ 3:03:52Thank you for the kind words. Um, I feel like I'm rising to soaring heights. So, but I yield back.
▶ 3:03:57Gentleman yields back. Mr. Flood, do you insist on your point of order?
▶ 3:04:00No, I do not.
▶ 3:04:01Gentleman yields back. Point of order is withdrawn. Is there further uh debate? If not, all those in favor of the Torres amendment, please say I.
▶ 3:04:11Any opposed? There's uh all those nay. So, in the pinure, the eyes have it. The eyes have amendment is adopted. We move on to the next amendment on 21st Century Housing Act.
▶ 3:04:27Mr. Chairman,
▶ 3:04:29the gentleoman,
▶ 3:04:30I have an amendment at the desk.
▶ 3:04:31Miss Williams has an amendment at the desk. We'll wait for it to be
▶ 3:04:43Mr. Chairman, I reserve a point of
▶ 3:04:45Thank you, Mr. Flood. A point of order is reserved by the gentleman from Nebraska. Sure.
▶ 3:05:55Clerk will report the amendment.
▶ 3:05:57An amendment to the amendment in the nature of a substitute to HR6644 offered by Miss Williams of Georgia designated as will GA095.
▶ 3:06:06Without objection, the amendment's considered rather the gentleoman from Georgia is now recognized for five minutes to describe her amendment. Thank you, Mr. Chairman. My amendment would simply establish a pilot program based on the bipartisan heirs act, a bill that I've led and discussed in this committee since the 118th Congress.
▶ 3:06:24And while I appreciate that we're marking up and discussing a bill to help cut the red tape to build more housing supply, which is essential, and create affordability, which is also essential, we should also retain and preserve existing home ownership when we're looking at how we create more housing and maintain housing in this country. For most families, their home or land they own will be the largest asset that they ever own.
▶ 3:06:50Unfortunately, mi many middle and low-income families have not been able to secure these assets between generations. Unfortunately, many families don't know whose name is on the title of the property that is being passed down. Land or homes and families are often passed down without a will, leaving home ownership unclear. And that is what you call an heir's property. And I have heirs property in my family too as so many people across the country especially in the south that I've been hearing from.
▶ 3:07:19In my home state, well the state that I grew up in in Alabama, it is quite prevalent. I grew up on my family farm and since being passed down for generations, we've added to the property over the years and as a result the property taxes increase and we had to come up with a plan to protect our land because we didn't have a clear title. It was listed in the county registra as heirs property.
▶ 3:07:41Without clear titles, families face legal challenges, displacement or loss of property and ultimately a loss of generational wealth in underserved families. Fanny May studied property and estimated that more than $ 32 billion with the beall $ 32 billion worth of property in 44 states and Washington DC has been impacted by airship issues. And in my state alone, Georgia has more than $48 million in heirs property on the books.
▶ 3:08:10Without wills and estate planning, it is next to impossible to secure wealth from generation to generation. Chairman Hill and Ranking Member Waters, my amendment would establish and provide legal assistance for heirs property owners to clear titles, which helps families preserve wealth that is passed down from generation to generation. 22 states have already adopted this, including Georgia.
▶ 3:08:34While I appreciate the Housing for 21st Century Act includes language from the Heirs Act to require the GAO to study the impact of heirs property, we can't wait to confirm what we already know to be true. Y'all, 22 states, red and blue states, have adopted this, which means we have a lot of states that are left behind. We must urgently provide greater support to help families clear titles.
▶ 3:08:57And my amendment today would do just that by establishing a four-year pilot program which would help families keep their homes now and provide a blueprint for longer term policy in the future. And while I'll be withdrawing my amendment today because we didn't quite get to a resolution, Mr. Chairman, so I'll be withdrawing my amendment.
▶ 3:09:16I hope that this is work that we will continue to work on on a bipartisan basis to enact legislation that helps not only create more affordable housing but ensure that we retain housing for all those who've dealt with the burden of clearing titles to land for their families that they grew up on. Thank you to both sides of the aisle for your work on the 21st century act housing act and for including the GAO study to study the isone heirs property. And with that, Mr. Chairman, I will withdraw my amendment and I yield back.
▶ 3:09:46Without objection, your amendment is withdrawn and thank you for your work consistently on this in a passionate way. We're grateful for that. We're looking forward to the results of the study. Uh who seeks recognition for amendments to the 21st century housing
▶ 3:10:02Miss Waters.
▶ 3:10:03Uh I move to um I strike the last word.
▶ 3:10:07She withdraw. She withdrew.
▶ 3:10:09I move to strike the last word. No matter she withdrew, I'm going to make you talk about it anyway. No,
▶ 3:10:14thank you. [laughter]
▶ 3:10:16Yeah, she withdrew. Uh, Miss Peterson.
▶ 3:10:22Thank you, Mr. Chairman. I have an amendment at the desk.
▶ 3:10:25The gentleoman from Colorado has an amendment at the desk. Please pause and we'll distribute it. Thank you. The gentleman from Wisconsin is reserving a point of order.
▶ 3:11:26Clerk will report the amendment.
▶ 3:11:29An amendment to the amendment in the nature of a substitute to HR6644 offered by Miss Patterson of Colorado designated as Per070. Without objection, this amendment will be considered read. And the gentleoman from Colorado, you're now recognized for five minutes to tell us about your
▶ 3:11:47Thank you, Mr. Chairman. And first, I want to thank you and ranking member Waters, Chairman Flood, or sorry, yes, Representative Flood and Cleaver for their work on this bill. I'm incredibly grateful for the inclusions of three bills that I have been working on. the Housing Supply Framework Works Act, the Identifying Regulatory Barriers to Housing Supply Act, and the Streamlining Rural Housing Act.
▶ 3:12:13I'd also like to thank Representative Flood and Stzman for their part partnership on these critical provisions to expand the housing supply. Uh, and so while I'm disappointed that the package does not include the valid act in it in its entirety, I want to thank the chairman and ranking member for their respective and their team for working with us on this amendment to find a good compromise on at least part of this legislation.
▶ 3:12:39I also want to give a shout out to my team who has worked really hard on this and trying to find a solution to move forward. I the veteran home ownership reached 78% this year, which is truly remarkable. Yet, only 10 to 15% of eligible veterans utilize the VA home loan benefit.
▶ 3:13:03The VA home loan is a unique government program that offers veterans a chance to buy a home without a down payment and often offers them lower interest rates, sometimes saving veterans 0.5 to 1%. And for all of you who pay mortgages, you know that that's a very big deal. On a $500,000 loan, a veteran could save 2500 a year or 75,000 over the life of a 30-year loan just from the savings on interest.
▶ 3:13:32Unfortunately, millions of veterans are leaving its financing option on the table simply because they are unaware that it even exists. And my friend from Texas, Miss Dea Cruz, has a provision in this bill that would require a disclosure about how veterans and their spouses are potentially eligible for VA loans. And this is a good provision, but this would add a statement below the military service question on what's called the uniform residential loan application.
▶ 3:14:01And I know this is a little wonky, but why this is important is because everything after the signature line is optional and many veterans never see that the military service question and and I'm concerned that this won't that they won't see the disclosure either.
▶ 3:14:18So, my amendment would strengthen what Miss Dea Cruz's provision already has uh by making the military service question required and move it up as Miss Dea Cruz's disclosure above the signature line so vets actually see it and that it's a mandatory that they check the box. So, asking this question earlier in the process will make the mortgage buying process clearer for veterans and for lenders. This amendment is a common sense step to ensure that veterans access the benefits that they've earned.
▶ 3:14:48And I urge my colleagues to support this amendment. And with that, I yield back.
▶ 3:14:55Gentlewoman yields back. Mr. Style, do you insist on your point of order?
▶ 3:14:59Gentleman withdraws the point of order. Who seeks recognition? Ranking member of the full committee, Miss Waters, you're
▶ 3:15:04I move to strike the last word.
▶ 3:15:06Recognized for five minutes. Too many of the brave men and women who served our nation returned home and struggled to access the benefits they earned. Despite the tremendous value of the VA home loan program, which can save veterans thousands of dollars and make home ownership possible, only a fraction of eligible veterans take advantage of it.
▶ 3:15:32This bipartisan legislation fixes a simple but critical gap in our housing system by adding a disclosure in the home loan application to raise awareness that those with military service may qualify for the VA home loan option.
▶ 3:15:50It also ensures that lenders have the military service information they need early in the process so veterans aren't left in the dark about the full range of options available to them.
▶ 3:16:05The amendment offered by Miss Pettison this morning would move the location of this military service section to above the signature line of the application to ensure that applicants can see the benefit. I thank you, Miss Patterson, for this amendment and I urge members to support this Gentleman yields back who seeks recognition on the Person amendment.
▶ 3:16:35I recognize myself for five minutes. Let me thank the gentleoman from Colorado for this uh slight but important improvement to Representative Dela Cruz's basic bill which is shared on both sides of the aisle. an effort to make sure our veterans know that we have a an exceptionally well-crafted and uh very beneficial VA loan program.
▶ 3:17:01And I think Miss Person makes a good point about uh in the elevation of this uh information more likely to be noticed by an applicant. And so I want to thank both uh Congresswoman Dela Cruz and the gentleoman from Colorado for working collaboratively on this. And while Miss Dela Cruz is not present, the majority would accept uh the gentleoman's amendment and I will yield back the balance of my time.
▶ 3:17:32All those in is there any other discussion on the Person Hearing none, uh move to vote on the Person amendment. All those in favor say
▶ 3:17:41I. Uh all those opposed say nay. In the uh view of the chair, the eyes have it and the amendment is adopted. Is there further amendment to the 21st century housing act? Gentleman from
▶ 3:17:58Thank you, Mr. Chair. Uh amendment is at the desk.
▶ 3:18:01We'll pause while it is distributed. Thank you.
▶ 3:18:03Number 074. Thank you,
▶ 3:18:11Mr. style is reserving a point of order. Thank you. Take care.
▶ 3:19:38Clerk will report the amendment.
▶ 3:19:41An amendment to the amendment in the nature of a substitute to HR644 offered by Mr. Licardo of California designated as LAR074. Without objection, the amendment will be considered as read and the gentleman from California, you're now recognized for five minutes to describe your amendment. Uh,
▶ 3:20:01thank you, Mr. Chair. I move to strike the last word. Um, like to thank you, Mr. Chair, as well as the ranking member and chair Hill and Ranking Member Clever for their very good work and collaborative leadership in bringing this housing package together. Unlike the rest of this Congress, this committee is actually taking bipartisan action to confront Americans greatest anxiety, which is the cost of living. Uh, and of course, the greatest source of pain in any budget in America today is housing.
▶ 3:20:30Uh, and so I want to certainly thank you and and everyone uh who has been working on this bill for including two of uh my bills in this package. Both focus on accelerating affordable housing construction. I want to thank also Chair Flood for his partnership on those two measures, HR4810, the Build Housing Act, and HR 4660, the Unlocking Housing Supply through Streamline Modernized Reviews Act. Uh I have offered an amendment here, uh HR 5591, the Resside Act.
▶ 3:20:59This is a bill that I introduced with my colleague, Congresswoman Maria Salazar, a bipartisan bill to resume reserve a portion of unutilized home investment partnerships program funds, the appropriations for a new pilot program to carry out a blighted building to housing conversion program.
▶ 3:21:19Uh the Senate companion to this bill was introduced by a bipartisan group of senators uh and included in the Senate's red road to housing package but excluded from this House version. Uh I would simply say that this is about converting vacant office buildings to housing.
▶ 3:21:37uh and particularly older class B and C buildings with smaller floor plates that provide a sustainable recycling opportunity to expand multifamily housing supply and lo locations proximate to transit services and jobs and in many coastal cities in particular construction costs make office conversions too expensive particularly with seismic retrofit and fire safety requirements that are required in many regions.
▶ 3:22:02So, we need to identify gap funding and financing tools that could unlock this opportunity to create thousands of new homes. Um, and Mr. Chair, we engaged with your team and appreciated uh their willingness to engage with us. There are concerns raised about how this might disincentivize owners uh from maintaining their commercial properties. And we're very happy to work with you and your team and the ranking member to modify the language in the bill to address that risk.
▶ 3:22:29I think the larger issue here is that our current economic context uh should persuade us that there are very good reasons why office buildings are vacant and increasingly blinded having nothing to do with the owner's motivations or actions. We have a national office vacancy rate of 19%. That's higher than it was during the Great Recession. We are now seeing rising unemployment rates. Preliminary October BLS data indicates uh that we may have lost jobs in October.
▶ 3:22:58uh combined with looming impacts of AI on our workforce, it's reasonable to assume that vacancy will be with us. And there obviously very painful impacts of all those trends on our families and communities. But among them, yawning vacancy rate and office buildings will hollow out our downtowns and our commercial centers and cities throughout the United States. Uh we can convert this vacancy and blight to opportunity for thousands of families needing a home in the form of an apartment or a condo. Mr.
▶ 3:23:26Chair, I I appreciate you've conveyed there will be additional opportunities uh to consider a markup housing legislation in the new year. We'd like to continue this conversation with your team and I'd ask if you would be willing to work with us to resolve any concerns you might have with the language of the Reside Act uh to move
▶ 3:23:42Are you yielding to me?
▶ 3:23:44I am.
▶ 3:23:44I thank the gentleman from California. Thanks for your work on this. You've identified a uh a key uh issue that I think merits additional work. And when you think about uh the the big picture points that you've made, I know they're going to be enhanced by the fact that in the one big beautiful bill, the new market tax credit and the low-inccome tax credit were made permanent because when you're stacking capital resources to do that kind of work, I think that'll be helpful. And your assessment that the home funds could be used that way, too.
▶ 3:24:13you have uh certainly my commitment that we'll continue to work on this and find a way to to uh have this bill come back to the committee in early in the in this coming year.
▶ 3:24:23Uh thank you, Mr. Chair. With that, I'll withdraw and you
▶ 3:24:28the gentleman withdraws without is there additional amendments to the 21st Century Housing Act? There being no further discussion or amendments to the bill, the question now occurs on adoption of the amendment in the nature.
▶ 3:24:51Additional houses
▶ 3:24:54the ranking members recognized.
▶ 3:25:00Mr. Chairman, um I seek uh an opportunity to ask for additional housing hearing and markup. Mr. Chair, again, I want to thank you for the bipartisan effort under which we have worked together. It is refreshing to see working together uh for the American people really does work. As you heard throughout this debate, my Democratic colleagues and I have many ideas on how to solve this housing crisis.
▶ 3:25:29And I'm sure your members may have additional ideas to address the unique needs of their districts and communities. So, I would like to suggest that today is not the last day for this committee considering housing bills. I understand that you're working to bring HUD Secretary Turner before our committee in the near future and maybe planning to have another markup to consider more housing proposals.
▶ 3:25:55Uh so, I would appreciate um confirmation on uh the HUD Secretary, Mr. Turner uh being invited to be here real soon. Is that uh going to happen real soon? And I will yield to you uh to talk about
▶ 3:26:15other hearings and [clears throat] continuing this hearing and having the secretary come uh before us.
▶ 3:26:21I thank the gentleoman. Thank you again for working on this great bipartisan package today of our 21st century housing act. Thank for the engagement for all our members on both sides of the aisle. I have no doubt that there are additional ideas that members have on both sides of the aisle that we could not include in this bipartisan package uh primarily due to time constraints and working out some final uh discussions and Mr. Licardo's bill we just uh he just withdrew is a good working example of that.
▶ 3:26:50So you will uh certainly have additional opportunities early in 2026 to have another markup on rel housing related matters and community banking related matters if we have other positive bipartisan ideas there. And I have invited uh Secretary Turner. We hope to have him here this fall. of the
▶ 3:27:13this fall
▶ 3:27:13this past fall the summer shutdown stopped my ability to invite him to be up before us during those 41 days but
▶ 3:27:21reclaiming my time reclaiming my time
▶ 3:27:24but you've got to let me answer your
▶ 3:27:25reclaiming my time
▶ 3:27:26you'll be here early in 2020
▶ 3:27:28I don't want to hear what I think you're about to say so I'm reclaiming my time
▶ 3:27:33yeah well you're famous for that I know
▶ 3:27:35I'm famous for this yes absolutely so uh on my time uh I'd like to know when are you talking about Mr. Turner coming? Are you talking about early January? I
▶ 3:27:48Uh I I expect Mr. Turner to accept our invitation for the first few weeks back right and he's he's ready to come. We just have to have a date in January or February for him to visit the committee.
▶ 3:28:00That sounds better.
▶ 3:28:01Thank you very much.
▶ 3:28:03I appreciate the gentleoman yielding to me. Uh there being no further discussion or amendments to our bipartisan 21st century housing act, I want to thank the ranking member uh Mr. Cleaver, Mr. Flood for all their work, the members that added substantive contributions to make this bill a strong bipartisan bill. The question now occurs on the adoption of the amendment in the nature of a substitute as amended. All those in favor shall signify by saying I. I.
▶ 3:28:30All those opposed signify by saying nay. The opinion chair the eyes have. The amendment is adopted. Question now occurs on ordering the bill as amended to be reported to the house with a favorable recommendation. Those in favor shall signify by saying I. I. All those opposed signify by saying nay. In the opinion chair the eyes have it. Mr.
▶ 3:28:49Mr. Style Mr. The gentleman from Wisconsin has requested a recorded vote. All those in favor record vote raise your hands. A sufficient number having raised their hand to record a vote is ordered pursuant to subsection C5 of rule three. The committee rules a vote on this question is postponed and we'll now move to the next bill.
▶ 3:29:16Pursuant to notice I call HR 1078 respect state housing laws act which was introduced by representative louderm the vice chairman of our financial institutions subcommittee. The clerk will report the bill which was distributed in advance.
▶ 3:29:34HR 1078 to amend the CARES Act to remove a requirement on lessers to provide notice to vacate and for other purposes.
▶ 3:29:42Without objection, the bill is considered read and open to amendment at any time. Representative Louderdermilk has an amendment in the nature of the substitute copies of which were distributed in advance. Clerk will now report that amendment.
▶ 3:29:53An amendment in the nature of a substitute to HR 1078 offered by Mr. Louderm Milk of Georgia designated as
▶ 3:30:02Without objection, amendments considered red will serve as base text for the purposes of amendment. And I now call on the gentleman from Georgia to describe his amendment. You have five minutes.
▶ 3:30:11Thank you, Mr. Chairman. I speak today in support of my bill HR1078, the Respect State Housing Laws Act. In March 2020, the CO 19 virus was sweeping through the country. To stem the spread of infections, federal, state, and local governments implemented stay-at-home orders and shuttered businesses nationwide. At the time, Congress worried that nationwide governmentmandated shutdowns would leave countless American families without a source of income to meet their financial obligations.
▶ 3:30:41Congress was equally concerned that a rapid rise in delinquent rental payments would lead to widespread eviction and mass displacement. Congress responded to this concern with section 4024 of the CARES Act, which created a temporary moratorum on eviction filings, as well as what was intended to be a temporary requirement to provide 30-day eviction notice to tenants in federally assisted or federally backed housing.
▶ 3:31:09At the time, a nationwide eviction moratorum was an unprecedented exercise of federal authority over housing. The 120day timeline reassured property owners that this federal intervention was a temporary response to the unprecedented threat of CO 19. Congress made no substantial effort to extend the moratorum beyond the period in statute because it was never intended to be permanent.
▶ 3:31:34While the eviction moratorum expired as intended, some have attempted to claim that the 30-day notice to vacate requirement was actually a permanent change in federal law that overrides shorter state and local notice requirements. HR 1078 would remove the drafting error in section 4024 C, eliminating the ambiguity in the law that remains today. Before my colleagues assert that this bill would make it easier to evict non-paying tenants from public housing, let me be clear.
▶ 3:32:05Prior to the CARES Act, HUD had its own notice to vacate requirements for different types of public housing. My bill would not affect requirements that were in statute or legislation prior to the CARES Act. It would simply clarify Congress's intent and resolve the ambiguity that it has created. Nothing in this bill would preclude states and localities from setting longer notice periods if they choose.
▶ 3:32:31Property owners across the country demand this clarity and a lack of congressional action will affect participation in various covered programs due to the risk that tenants may remain on the property without payment for a long for a long period. That is why my bill has received support from a broad coalition in the residential real estate sector. Mr.
▶ 3:32:53Chairman, I would like to submit a letter from the National Association of Residential Property Managers, uh, National Multi-Housing Family Council, the National Apartment Association, the Real Estate Technology and Transformation Center, and the National Association of Realators letters in support of this legislation.
▶ 3:33:12Without objection,
▶ 3:33:14the effects of section 4024 C aren't limited to large property managers or real estate investors. Prolonged occupation with non-payment creates particular risk to retirees and military service members who rely on rental income to operate their properties and to meet their monthly financial obligations. Frivolous lawsuits that are filed because of the current ambigu ambiguity in law disproportionately impacts small law landlords, affordable housing nonprofits, and local housing providers.
▶ 3:33:44Clarity benefits everyone here, including renters who deserve accurate information. HR1078 would restore the precares act framework and respect the long-standing role of state and local governments in housing law. I urge my colleagues to support this bill and I yield back.
▶ 3:34:02The gentleman yields back. Is there further debate?
▶ 3:34:05Ranking members is recognized.
▶ 3:34:07I move to strike the last word. Earlier today, we had a bipartisan discussion about legislation. I the chairman and representatives Clever and Flood offered to finally begin tackling the affordable housing crisis. It was a good discussion. It is for this reason, it is so concerning that immediately after the discussion, we would now consider Mr. Ladmik's bill HR 1078.
▶ 3:34:38I would remind everyone it was a collective effort It was I would remind everyone it was a collected effort of a committee Democrats and Republicans through the CARES Act to include a permanent 30-day eviction requirement. There are numerous other provisions that had expiration dates, and this provision was not one of them.
▶ 3:35:08But now Republicans are claiming that the permanent nature of that notice was a mistake. The CARES Act 30-day eviction notice requirement provides a lifeline for countless families during one of our nation's worst housing crisis. It allows tenants to have a few extra weeks to either pay a miss rent payment, final legal support, or figure out the next place to lay their head.
▶ 3:35:34It also reduces the time and cost burdens on landlords and public housing authorities associated with conviction evictions. But let me be clear about what HR 1070 would do. If we vote to rip away this protection, the 30-day eviction notice will effectively disappear nationwide. There is no state in this country that guarantees this protection except Washington DC. The pandemic highlighted the critical need for these tenant protections.
▶ 3:36:04But the end of the pandemic doesn't mean renters are in the clear and should have their protections wiped out. In fact, the Department of Housing and Urban Development estimates that a 30-day notice for non-payment of rent helps reduce evictions by between 1,600 and 4,900 annually. These aren't just numbers. families, children, and people across America who because of this notice avoided being put out on the street and kept uh with a roof kept over their heads.
▶ 3:36:36Research has shown that a direct correlation between eviction violence and increased rates of individuals and families staying in shelters. By providing tenants with adequate notice and clear information on the reasons for eviction, we're not just adhering to legal requirement. We're stabilizing communities and preventing a proven spiral into homelessness. I oppose Instead, I'm committed to measures that protect tenants, promote housing stability, and contribute to the broader goal of ending homelessness.
▶ 3:37:05Uh, I would like to have a colloqui um with the gentleman author of this uh bill, Mr. Limeck, because I want to make sure I understand what is happening here. Uh, Mr. lot. Are you suggesting that tenants should not have a 30-day notice uh but to be evicted uh without at least having 30 days uh to be able to find a place?
▶ 3:37:33And are you suggesting that this doesn't cause homelessness? Uh what are you saying? I yield to you. Well, Madame Ranking member, all this does is return us back to where we were prior to CO. And if if what you're saying was happening, then everyone here was okay with that before. This is not what that does.
▶ 3:37:59All this does is remove the ambiguity, which of the intention of that that provision was to be temporary.
▶ 3:38:08It's okay. The bill does not change my time. Reclaiming my time.
▶ 3:38:13If this was about removing an ambiguity, then what you want to do is you want to decision. You want to make a decision on the side of tenants. Uh because you don't want them kicked out and evicted. Not in this housing crisis that we have in this country. You don't want to put children on the street. You don't want to increase homelessness. You don't mean that they're not to get at least a 30-day eviction notice. You don't mean that.
▶ 3:38:42I yield back,
▶ 3:38:44ma'am. What I'm saying is this bill does not change state and local notice to vacate. Period. If a state wants to make a longer time period just as it was prior to COVID, all this do is doing is removing the ambiguity due to a drafting error made during the CARES Act.
▶ 3:39:01Reclaiming my time is reclaiming my time. Let's air on the side of tenants. We don't need this. This is unnecessary. Would you withdraw this, please?
▶ 3:39:11I will not, ma'am, because it is not Necessary going to be responsible for
▶ 3:39:17The gentleoman's time is expired. Who else seeks recognition? The gentle lady from Texas, Mrs. Miss Dea Cruz, is recognized for five minutes.
▶ 3:39:28Mr. Chairman, I move to strike the last
▶ 3:39:30Gentle lady is recognized. I join Representative Louderdermilk in support of his bill HR 1078, the Respect State Housing Laws Act. This bipartisan legislation clarifies congressional intent and ensures states and localities can set their own housing and eviction rules.
▶ 3:39:51During the prior administration, the CARES Act was passed and included a new but temporary 30-day notice to vacate requirement intended to bring relief during CO. Well, CO is now over. Since then, there has been a maze of confusion for both landlords and tenants trying to understand the federal, state, and local laws.
▶ 3:40:20HR 1078 does not remove tenant protections or eviction regulations, but rather empowers state and local governments to create housing rules that meet their community's needs.
▶ 3:40:37Unfortunately, since passage of this provision in the CARES Act, the confusion has only increased costs for small landlords who in turn run the risk of exiting the market and only our already strained housing market.
▶ 3:40:57The Respect State Housing Laws Act brings certainty to the housing market, something that helps everyone, including renters. I urge my colleagues to support HR 1078, the Respect State Housing Laws Act. Thank you. I yield back.
▶ 3:41:17Gentle lady yields back. Does anyone else seek recognition on the amendment in the nature of a substitute? Hearing none, we will move to amendments. Does anyone wish to offer an amendment to the amendment in the nature of a
▶ 3:41:34I'm sorry, what did you just read?
▶ 3:41:38There being no further discussion or amendments on the bill, the question now occurs on the adoption of the amendment in the nature of a substitute. All those in favor shall signify by saying I.
▶ 3:41:47All those opposed shall signify by saying nay.
▶ 3:41:50Nay. In the opinion of the chair, the eyes have it and the amendment is
▶ 3:41:56Shame, shame, shame.
▶ 3:41:58The question now occurs on ordering the bill as amended to be reported to the House with a favorable recommendation. Those in favor shall signify by saying
▶ 3:42:07All those opposed shall signify by saying nay.
▶ 3:42:10In the opinion of the chair, the eyes have it.
▶ 3:42:15For what purpose does this does the gentleman from Georgia seek recognition?
▶ 3:42:19Recorded vote is requested. Ask for a recorded vote.
▶ 3:42:23The gentleman has requested a recorded
▶ 3:42:26Oh, he
▶ 3:42:27all those in favor of a recorded vote, please raise your hand. A sufficient number having raised their hand, a recorded vote is ordered pursuant to subsection C5 of rule three of the committee rules. The vote on this question is postponed. We will now move on to the next bill Pursuant to notice, I call up HR4646, the whistleblower protection act of 2025, which was introduced by Representative Dea Cruz.
▶ 3:42:54The clerk will report the bill, which was distributed in advance. HR 4646 to clarify that whistleblower protections described in section 4712 of title 41, United States Code, apply to any contract funded from amounts appropriated to the Department of Housing and Urban Development and for other purposes. Without objection, the bill is considered read and open to an amendment at any point. Representative Dea Cruz has an amendment in the nature of a substitute, copies of which have been distributed in advance.
▶ 3:43:25The clerk will report the amendment.
▶ 3:43:27An amendment in the nature of a substitute to HR 4646 offered by Miss Cruz of Texas designated as ANS to HR
▶ 3:43:37Without objection, the amendment is considered read and it will serve as the base text for purposes of the amendment. The gentle lady from Texas, Miss Dea Cruz, is recognized for five minutes.
▶ 3:43:47Thank you, Mr. Chairman, for bringing up this very important bill, HR4646, the Whistleblower Protections Act of 2025. I would also like to thank the bipartisan co-sponsors of this legislation, including my colleague from Georgia, Congresswoman Williams.
▶ 3:44:08This bipartisan legislation makes it clear that whistleblower protections apply to any HUD contractor regardless of the date on which the contract was signed. Something that will clarify protection for thousands of HUD contractors and ensure they are not retaliated against for simply acting in the taxpayers's best interest.
▶ 3:44:34At their core, whistleblower protections are one of the best tools we have to combat waste, fraud, and abuse within HUD programs. And unfortunately, we know that fraud, we know that fraud within HUD programs hurts those that need help the most.
▶ 3:44:59adds clarity to congressionally enacted enhanced whistleblower protections originally passed in 2013 known as section 4712. These anti-retaliation provisions apply to both contracts awarded after section 4712 was enacted and also to contracts that predated section 4712 and have been
▶ 3:45:29modified. However, due to the way many HUD contracts are structured, certain programs entered into contracts that are often decades long. As a result, there are still active HUD contracts that predate 2013 and do not include section 4712 The whistleblower protections act closes this gap gap
▶ 3:46:00which was never intended by Congress in the first place. The need for clarity on section 4712 whistleblower protections has been discussed for years both by HUD IIG who recommended this be addressed during the previous administration and most recently by HUD in their FY26 congressional justifications.
▶ 3:46:27HUD has long asked for the clear statutory authority to include section 4712 whistleblower protections within all their contracts and HR 4646 is the best way to do just that. I urge my colleagues to join me in support of HR the whistleblower protections act of Thank you. I yield. The gentle lady yields back.
▶ 3:46:57Is there further debate on the amendment in the nature of a substitute? The ranking member is recognized for five minutes.
▶ 3:47:03I move to strike the last word.
▶ 3:47:05Gentle lady's recognized.
▶ 3:47:07Effective oversight depends on accountability and transparency. That is why whistleblower protections are especially critical when agencies make significant policy changes. Unfortunately, at Trump's HUD, the secretary is rolling back fair housing enforcement and compliance, blocking Congress from receiving critical information and weakening tenant protections.
▶ 3:47:35This leaves whistleblowers as one of the only remaining checks on harmful actions taken behind closed doors. Congress must make clear that those who expose wrongdoing will be protected, not silenced. Whistleblowers are essential to accountability, transparency, and proper functioning of our government.
▶ 3:48:00When individuals step forward to report waste, fraud, abuse, or violations, they help guarantee federal housing programs operate as Congress intended. Now, I support HR 4646 for the way it ensures protections for whistleblowers are strengthened and applied clearly and consistently across HUD and its federal contractors.
▶ 3:48:28Unfortunately, if this committee continues to ignore Trump's actions to undermine the inspector's generals across the government, including and especially at HUD, I'm not sure this bill will have any meaningful impact.
▶ 3:48:45Trump has repeatedly fired the HUD and FHFAIGs, including when the IG's have publicized their intent to investigate the lawlessness that is so common place in the Trump administration.
▶ 3:49:02So, while this bill could strengthen protections for employees who blow the whistle, I'm not sure we'll do anything so long as no one is reigning in the illegal actions of Trump and his administration. In addition to that, I um understand that his Supreme Court has given him immunity on everything.
▶ 3:49:32And so while this is a good effort to talk about protecting whistleblowers, if you get in Trump's way, he's going to seek revenge on you and he's going to tell you publicly and in your face and brazenly that he's going to get you.
▶ 3:49:50So I don't know uh how we keep people from being intimidated IG's and others who could be who lose their jobs because the president of the United States decides he does not like what they are doing. It is an opposition to what he wants. I yield back.
▶ 3:50:08Gentle lady yields back. Is there further debate on the amendment in the nature of a substitute?
▶ 3:50:13Miss Presley, the gentle lady from Massachusetts is recognized for five
▶ 3:50:18Thank you, Mr. Chair. I wish to speak on the previous amendment.
▶ 3:50:23Gentle lady's recognized.
▶ 3:50:25Okay. Um, let's be clear about something here. When we're talking about evictions, the rent is too damn high. That is the problem we should be focusing on fixing. We need to make it easier for people to remain housed, not make it easier for them to be evicted, which this legislation would redo would do. Families everywhere are living in an affordability crisis. Child care, groceries, transportation, and health care are skyrocketing. And just yesterday, we saw that the national unemployment rate is at a four-year high.
▶ 3:50:54Our constituents and our neighbors are trying desperately to make ends meet. While the occupant of the White House maintains that the affordability crisis is a hoax. It is real. It is very real. I want my Republican colleagues to put yourself in their shoes. Bills are piling up on the table and the cost of living is through the roof. You are juggling taking care of your loved ones while also managing increased health care costs and decreased public benefits. And now you're being told that you will be evicted.
▶ 3:51:23In some states, you can be kicked out with a 3-day notice only 72 hours between being housed and living on the street. Housing is a human right, and that eviction process is inhumane. The financial strain of Trump's economy is putting pressure on people to choose between medication and rent. And if they aren't able to pay, there should at least be a fair eviction process.
▶ 3:51:47Currently, the law requires that families in federally backed properties have 30 days notice, one month to try and work out a deal with their landlord or to find a new place to live. The system is already stacked in favor of landlords. In some states, over 90% of landlords have attorneys, while only 3% of tenants do. And for households with parents, research shows that having a child increases your chances of being targeted for eviction. Increases your chances.
▶ 3:52:17And that is why this bill, this bill, the Respect State Housing Laws Act, HR1078 to remove the 30-day notice requirement before evicting a tenant is so harmful. Let's talk about who will feel the brunt of that harm. The face of homelessness homelessness in this country are our elders. In fact, it's being called a gray wave because our seniors have the fastest growing rate of being unhoused.
▶ 3:52:44I do not know why anyone would vote for a bill to make it easier to evict grandmothers and grandfathers and to put them on the street. It's cruel. So, I respectfully ask that my colleagues vote against this bill. And I yield back.
▶ 3:52:58Gentle lady yields back. Is there further debate on the amendment the nature of a substitute? Seeing none, I now recognize myself for five minutes. I move to strike the last work in support of Miss Da Cruz's bill HR 4646, the whistleblower protection act of 2025. Whistleblowers are often the first line of defense in protecting taxpayer dollars and are best possessioned uh to identify waste, fraud, and abuse within our federal programs. Congress recognized their importance when it enacted section 4712 in 2013.
▶ 3:53:29But because those safeguards applied only to contracts issued after 2013, many long-standing HUD agreements were left without equivalent assurances. This bill resolves that gap by ensuring that all federal contractors and grantees, regardless of when their contracts were awarded, receive the protections they deserve. The American people expect accountability and accountability is only possible when individuals feel safe to report wrongdoing. It is our responsibility to uphold that protection.
▶ 3:53:58Strengthening whistleblower protections reinforces transparency, deters corruption, and promotes a culture of integrity across the federal agencies. No one working with HUD or a federal agency in any capacity should ever fear retaliation for reporting misconduct. This bill guarantees those safeguards and ensures taxpayer dollars are used as intended. I commend the housing and insurance subcommittee vice chair Dea Cruz for advancing this necessary bipartisan reform and I urge my college to colleagues to support the bill.
▶ 3:54:28I yield back. Does anyone else seek recognition on the amendment in the nature of a substitute? Hearing none, we will move to amendments. Does anybody wish to offer an amendment to the amendment in the nature of a substitute? There being no further discussion or amendments to the bill, the question now occurs on the adoption of the amendment in the nature of a substitute. All those in favor shall signify by saying I. All those opposed shall signify by saying nay.
▶ 3:54:56In the opinion of the chair, the eyes have it. The amendment is adopted. The question now occurs on ordering the bill as amended to be reported to the house with a favorable recommendation. Those in favor shall signal by saying I. Those opposed signify by saying nay. In the opinion of the chair, the eyes have
▶ 3:55:20Mr. Chair,
▶ 3:55:21for what purpose does the gentle lady from Texas seek recognition?
▶ 3:55:24I request a recorded vote, please.
▶ 3:55:26A recorded vote is requested. All those in favor of a recorded vote, raise your hand. A sufficient number having raised their hand. A recorded vote is ordered. Pursuant to subsection C5 of rule three of the committee rules, the vote on this question is postponed. We will now move on to the next bill. Pursuant to notice, I call up HR6541, the Regulation A+ Improvement Act of 2025, which was introduced by Representative Stzman. The clerk will report the bill, which was distributed in advance.
▶ 3:56:01to amend the Securities Act of 1933 with respect to small company capital formation and for other purposes. Without objection, the bill is considered read and open to amendment at any point. Representative Stzman has an amendment in the nature of a substitute, copies of which have been distributed in advance. The clerk will report the
▶ 3:56:20An amendment in the nature of a substitute to HR6541, offered by Mr. Stzman of Indiana designated as HR6541
▶ 3:56:30Without objection, the amendment is considered read and will serve as base text for purposes of amendment. The gentleman from Indiana, Mr. Stzman, is recognized for five minutes.
▶ 3:56:38Thank you, Mr. Chairman. Uh, and thank you for [clears throat] the opportunity to uh discuss a little bit about the um regulation A+ Improvement Act. Uh when I meet with businesses back home in Indiana that are in their early growth stages or looking to transition away from private investment and private offerings, I consistently hear the same concern.
▶ 3:57:01Uh it used to be companies, you know, was it was their goal to go public at some point and going public has become extremely difficult because of outsized compliance cost and burdensome government red tape. The result of this is very clear. The number of public companies in our country has steadily declined and a traditional IPO is simply out of reach for many small and midsize businesses. This is not a new problem.
▶ 3:57:30Uh during my first few years in Congress, we faced a similar challenge and responded by passing the jobs act in This legislation prompted the SEC to create two new tiers of securities uh security offerings under regulation A. Tier one for offerings up to 20 million annually and tier 2 for offerings of up to 50 million annually.
▶ 3:57:56Known as regulation A plus, these offerings allowed more small and medium-sized businesses to raise capital and even be traded publicly without the cost of a traditional IPO. However, the current offering limits have not kept pace with rising inflation, nor the substantial capital needs of today's startups and scaling businesses.
▶ 3:58:18While the SEC's decision to increase the tier 2 offering cap to $75 million in 2020 was a step in the right direction, the current limit is not a viable long-term option for American companies. That's why I introduced the Regulation A+ Improvement Act. This bill increases the exemption cap for tier one offerings to $50 million and requires the SEC to adjust this amount for inflation every 5 years.
▶ 3:58:47This bill would also increase the tier 2 offering limit to $150 million and similarly require the SEC to adjust the limit for inflation every 5 years. This will allow more small and midsize businesses to access the capital needed to expand their growing operations, invest in research, or hire more workers, all with fewer regulatory hurdles, and lower the compliance cost.
▶ 3:59:13This change will also strengthen the regulation A+ market by encouraging more issuers to conduct offerings, improving conditions for broker dealers to participate, and attracting a larger and more seasoned pool of issuers and investors. Updating these offerings represents a common sense step in our committee's work to make our capital markets more accessible, more dynamic, and more competitive.
▶ 3:59:37[snorts] America's markets are the envy of the world, but we must continue to modernize outdated regulations to ensure they accurately reflect the needs of today's economy, not the economy of five or 10 years ago.
▶ 3:59:51So, I'd like to thank Chairman Hill and Chair Wagner for their support, and I look forward to continuing our work to ensure businesses of all sizes have the investment they need to grow, create jobs, and keep our economy strong and access to uh capital that they need to grow, and create more jobs for our country. So, I'll ask my colleagues in closing to support this legislation. If there's any questions uh regarding that, please see me. I'd be happy to help. And with that, Mr. Chairman, I'll yield back. The gentleman yields back.
▶ 4:00:21Is there a further debate on the amendment in the nature of a substitute? The gentle lady from Missouri, who is also the subcommittee chair of the capital market subcommittee. Uh and Miss Wagner is recognized for five minutes.
▶ 4:00:34I thank you, Mr. Chairman. I move to strike the last word. Uh thank you to uh Congressman Stzman for spearheading the regulation A+ improvement act. In 2012, title four of the jobs act directed the SEC to add a class of regulation A securities for offerings of up to 50 million per year. In 2020, the SEC raised this amount to 75 million.
▶ 4:01:04While this increase was a step in the right direction, a May 2025 report from the SEC's Division of Economic and Risk Analysis found that the number of offerings and aggregate financing amounts raised under regulation A remained significantly smaller than those under Regulation D.
▶ 4:01:28As a jobs act proved over a decade ago, Regulation A can be a powerful tool for companies that want to access our capital markets without being subject to the burdensome requirements that come with a full IPO. In order to ensure that this tool remains effective, the cap for these offerings needs to keep pace with inflation and the capital needs of today's businesses.
▶ 4:01:58By lifting the amount that companies can raise under regulation a Congress provides a powerful incentive for small and medium-siz companies to raise public capital and potentially transition to a major exchange later. I urge strong support of this crucial legislation and I yield back the balance of my time.
▶ 4:02:22The gentle lady yields back. Does anyone else seek recognition on the amendment in the nature of a substitute? Hearing none, we will move to amendments. Does anyone wish to offer an amendment to the amendment in the nature of a substitute?
▶ 4:02:33What purpose does the gentle lady from California seek recognition? The ranking
▶ 4:02:38I have an amendment at the desk.
▶ 4:02:39We will pause while the amendment is Mr. Stsman, are you interested in reserving a point of order?
▶ 4:02:57Yes, point of order is reserved.
▶ 4:03:48The clerk will report the amendment. An amendment to the amendment in the nature of a substitute to HR6541 offered by Miss Waters of California designated as HR654101.
▶ 4:04:01Without objection, the amendment is considered read. Gentle lady from California, ranking member of the committee is recognized on her Regulation A was designed to help genuine small businesses raise capital while maintaining appropriate investor protections.
▶ 4:04:25Unfortunately, this rule is not widely used by companies for numerous reasons, including difficulty trading the securities, high upfront compliance costs, and the lack of brokers willing to sell and underwrite the securities.
▶ 4:04:45Unfortunately, HR6541 does not address the problems with this rule, but instead doubles the amount a company can raise to 150 million. SEC data clearly show that most regulation A offerings raise only a few million dollars nowhere near today's cap and prior increases to the threshold did not boost usage
▶ 4:05:15of this exemption by I cannot support this bill unless it is paired with a serious review of what meaningful reforms are needed. A joint study by the SEC, the North American Securities Administrators Association, and Small Businesses Advocate would help us figure out a path to truly increase responsible utilization of regulation A.
▶ 4:05:45I also cannot support this bill unless we roll back [clears throat] the misuses and abuses of the regulation A framework. Regulation A is meant for small brick and mortar businesses.
▶ 4:06:01Instead, the data clearly shows that the vast majority of entities raising money that are near the existing threshold are actually financial firms that act like private equity funds. We should strengthen regulation A for small businesses, but not like this.
▶ 4:06:303B of the Securities Act of 1933 15 USC77CB is amended. In paragraph 2 A, are we reading this? Oh, all right. Thank you. I yield back.
▶ 4:06:49Gentleman yields back. Does the gentleman insist on his point of order?
▶ 4:06:54Withdraw the point of order.
▶ 4:06:56Uh thank the gentleman point of order is withdrawn. Does gentleman seek recognition? Move to strike the last
▶ 4:07:02Gentleman's recognized for five minutes.
▶ 4:07:04Thank you, Mr. Chairman. Um you know I I just believe that uh you know we need to let the marketplace really be the um the decision maker on who is winners and losers. Looking through this amendment quickly uh this is really government again picking the winners and losers and we don't we don't need another study. Um the industry has been very clear.
▶ 4:07:28I mean I've been was in the private sector for the last eight years and working with companies that are trying to grow. If we want our economy to grow in this country, we need to give them the tools to raise the capital for growth. There is there is capital available. People want to invest into companies uh that they see where there's opportunity.
▶ 4:07:49Whether it's tech, uh whether it's manufacturing, we're trying to bring manufacturing back to the United States, u agriculture, we all know the demands and the needs that we have uh within the country and we want to see the American economy grow not be stifled by by further government regulation. So, Mr. Chairman, um I would just ask that this uh amendment be defeated.
▶ 4:08:13Um, let's be sure that uh the the American entrepreneur, the American businesses have the tools and the ability that they need to raise capital. I you know it was it's one of the things that makes America a great country is where people can work hard, build a company and take it public. That that is always celebrated.
▶ 4:08:35I always enjoy watching, you know, on TV when a company goes public and the celebration that's around that where people have the ability to invest into companies that are growing and have new opportunities. And that's what makes the American economy so strong is because so many people can participate in uh in investing in companies that they believe in. So uh we should be making it easier for companies to raise money uh not harder like this amendment does. And so with that, Mr. Mr.
▶ 4:09:05Chairman, I'll ask my colleagues to oppose this amendment and I'll yield back.
▶ 4:09:09Gentleman yields back. Who seeks recognition on Mrs. Waters amendment?
▶ 4:09:15Seeing no others, I'll recognize myself for five minutes. I certainly recognize the concern that Regulation A is currently dominated by real estate and financial services uh firms. But we need to be clear why uh many us many of us in the majority believe that's the case. Data showing these sectors hover around the $75 million mark isn't proof that reggae is only for them. This is proof that the current cap is too low for everyone else.
▶ 4:09:40For example, operating companies, particularly those in tech, biotech, and manufacturing, face much has uh larger, higher research and development costs than any real estate firm. Uh and so by keeping the cap at 75 million, we're effectively telling higher growth, more more capital intensive operating companies that reggga is too small for their needs. So by keeping the threshold low, we aren't protecting operating companies. We're actually starving them.
▶ 4:10:08We're forcing the our more promising businesses that have higher growth and large employment opportunity to stay dependent on private equity or by classic venture capital firms and not in fact take advantage of of reggga.
▶ 4:10:24So if we want to see more main street operating companies use regggaea, we ought to raise the ceiling so that a scaling company can justify the cost of the transparency and choose uh this kind of way of tapping the public investment markets rather than a private bailout private sale I would say. So I want to urge my colleagues to not support the waters amendment but to support the underlying bill and I yield back the balance of my time.
▶ 4:10:53Who seeks uh recognition? Hearing none, uh we'll move to vote on the waters amendment. All those in favor, please say I.
▶ 4:11:06All those opposed say nay. Nay. And opposed. The pendant chair of the nays have it. Nays have it amendment is not I recognize the recognize the ranking requests [clears throat] a recorded
▶ 4:11:25The ranking member requests a recorded vote on her amendment. All those in favor of record vote, raise your hands. A sufficient number having raised their hand, a recorded vote is ordered. Pursuant to subsection C5 of rule three of the committee rules, further proceedings on that amendment are postponed. We'll now move to the next Is there an additional amendment? Seeing no further amendments, without objection, the previous question on the substitute is ordered and recorded votes on the pending amendments have been postponed.
▶ 4:11:54Once these votes are taken, the committee will immediately vote on the adoption amendment and nature of a substitute and then we'll consider the question to report the measure. We'll now move to our next bill. Pursuant to notice, I call up HR 4130, the Small Business Relief Act, which was introduced by the chairman of the House Homeland Security Committee, our great member from New York, Representative Garberino. The clerk will report the bill, which was distributed in advance.
▶ 4:12:22HR 4130 to amend the Securities Exchange Act of 1934 to exclude qualified institutional buyers and institutional accredited investors when calculating holders of a security for purposes of the mandatory registration threshold under such act and for other purposes. Without objection, the bill is considered read and open to amendment at any point. Representative Garbrino has an amendment in the nature of a substitute, copies of which have been distributed in advance. The clerk will report that amendment.
▶ 4:12:50An amendment in the nature of a substitute to HR 4130 offered by Mr. Garberino of New York designated as 40 HR 4130 ANS.
▶ 4:12:59Without objection, amendment is considered red will serve as base text for purposes of amendment. The gentleman from New York, chairman of the Homeland Security Committee. You're recognized for five minutes to describe your
▶ 4:13:10Thank you, chairman. I I urge all of my colleagues to join me in supporting HR 4130, the Small Business Relief Act. Small Business Relief Act is an important step to ease the pressure on companies to become public. This bill makes a targeted change to encourage capital formation by making it easier for companies to raise money from sophisticated investors without immediately facing the costly and complex requirements of full public registration. Under current law, companies are required to register their securities once they reach a certain number of holders.
▶ 4:13:39That threshold was designed to protect retail investors by ensuring transparency and disclosure when ownership becomes widespread. However, the law currently counts all holders the same regardless of whether there are in individual investors or large sophisticated institutions. This bill updates that threshold how that threshold is calculated by excluding qualified institutional buyers and institutional credit investors from the holder count.
▶ 4:14:05These investors are large, sophisticated institutions with the expertise and resources to evaluate risk without the same regulatory protections required for retail investors. Treating them the same as individual investors for registration purposes can unnecessarily accelerate regulatory burdens on growing companies. We must ensure that regulatory requirements are appropriately tailored to the type of investor involved in the realities facing growing businesses.
▶ 4:14:31By making this adjustment, this bill allows small and mid-size companies to raise capital from institutional investors without triggering premature and co costly registration requirements. That added flexibility helps businesses focus resources on growth, innovation, and job creation rather than compliance costs. This is especially important for companies operating in higher cost regions, including areas like Long Island. Many Long Island businesses rely on private markets to grow and scale before going public.
▶ 4:15:01In these industries, access to institutional investment can be critical to competing, retaining talent, and bringing new products and services to the market. Importantly, this change does not weaken investor protections for everyday Americans. Retail investors remain fully protected under existing securities laws. Instead, the bill better aligns regulation with modern capital markets, the realities of how businesses access funding today.
▶ 4:15:24This is a targeted progrowth reform that promotes efficient capital formation, supports small business expansion, and strengthens our economy while maintaining appropriate investor safeguards. I hope my colleagues on both sides of the aisle join me in voting for this bill. Thank you, chairman. I yield
▶ 4:15:41Gentleman yields back. Who seeks uh
▶ 4:15:46Ranking member, seek recognition.
▶ 4:15:49I move to strike the last word.
▶ 4:15:51The gentleoman's recognized for five minutes. I strongly oppose HR4130. This bill is not about helping small businesses. It's about helping companies with thousands of investors avoid transparency and accountability and hurts our public uh securities markets.
▶ 4:16:10Congress set clear thresholds in the Exchange Act so that investors receive basic disclosures about a company once its ownership becomes widespread. This bill punches a hole straight through those protections.
▶ 4:16:28Under current law, some companies have abused the SEC's rules about how to count so-called holders of record, allowing them to avoid making public disclosures. They've done this by using a single broker, dealer, or pulled investment vehicle to be counted as the one holder of record.
▶ 4:16:51Even though there may be many many investors behind them, the held of threshold of 2,000 investors was created because when a company has that many investors, it should be considered public and so should make public disclosures.
▶ 4:17:11HR4130 would make that problem worse by allowing companies with thousands of investors to exclude even more investors from the count so-called qualified institutional buyers and institutional accredit investors.
▶ 4:17:29I intend to offer an amendment that would solve this problem by revising the definition of held of record in section 12G of the Securities Exchange Act to apply to beneficial holders only. This change would provide an accurate count of investors and close the loophole this bill seeks to expand.
▶ 4:17:55Investors deserve transparency and companies with thousands of investors should be considered public. I urge my colleagues to oppose this bill. Thank you and I yield back the balance of my
▶ 4:18:08Gentleman yields back who seeks I want to may recognize myself for five minutes to comment on Chairman Garino's bill. I want to thank him for his leadership in drafting HR4130, Small Business Relief Act, which is a a targeted fix to our securities law that will directly help higher growth American companies as they scale building jobs and opportunity.
▶ 4:18:35Current SEC rules mandate that public registration once a private company surpasses a threshold of assets and 2,000 shareholders of record. So those both those things cause a public company I mean a private company to automatically start reporting as a private c as a public company.
▶ 4:18:56Congress raised this threshold under the jobs act back in 2012 but it did not address a fundamental flaw which is that large sophisticated institutional investors that have invested in this private business are still counted toward the 2000 holder of record limit.
▶ 4:19:14And these investors such as qualified institutional buyers or institutional accredited investors possess the professional expertise to obviously make the judgment about a private enterprise and or make a fully informed investment decision and they don't need the same protections as a as a retail investor.
▶ 4:19:32So by triggering converting a private company automatically to a a public company could be done in a premature way uh if you have that many institutional investors that takes it over the 2000 limit that was set by the jobs act. So Mr.
▶ 4:19:51Garbino's bill amends section 12G of the exchange act to exclude qualified institutional buyers and institutional accredited investors from the holders of record which gives more room for individual investors and uh doesn't trigger them filing as a public company if in fact those large investors are the reason for that.
▶ 4:20:14This correction, I believe, is is what the jobs act intended in terms of the philosophy and allows innovative vis businesses to grow privately until they're truly ready for the public markets rather than to be pushed into the public markets inadvertently by virtue of how many shareholders they have institutional I must say shareholders. So I would urge my colleagues to support the Garbro bill and I yield back the balance of my time. Uh who seeks uh recognition?
▶ 4:20:45Uh is anyone uh if there are no other speakers or do we have amendments to the Garbrino bill?
▶ 4:20:53The gentleoman has the ranking member has an amendment at the desk. So we will pause while that's distributed.
▶ 4:21:06Mr. Chairman, I reserve a point of
▶ 4:21:08Mr. Stzman of Indiana reserves a point of order on this amendment. Thank you.
▶ 4:22:05clerk will report the amendment.
▶ 4:22:08An amendment to the amendment in the nature of a substitute to HR 4130 offered by Miss Waters of California designated as HR 41301. Without objection, the amendment's considered read and the gentleoman from California, Miss Waters, is now recognized for five minutes to explain her amendment.
▶ 4:22:24Uh, thank you, Mr. Chairman. This amendment rightsizes section 12G of the Securities Exchange Act to ensure that private companies with thousands of individual investors should be public. Under the current law, as well as under Mr. Gabberino's bill, companies can full SEC disclosure requirements, pull their individual owners into large pools.
▶ 4:22:51My amendment would keep the investor thresholds in the current bill, but would modify the definition of held of record to be an actual person, the beneficial owner of the security. I urge members to support this amendment and I yield back. Gentleoman yields back. Who seeks recognition on the waters amendment? Oh, I'm sorry. Does the gentleman from Indiana insist on his point of order?
▶ 4:23:16I withdraw my point of order.
▶ 4:23:18Point of order has been withdrawn. Who seeks recognition on Miss Waters amendment? Gentleman from New York.
▶ 4:23:23Thank you, Mr. Chairman. Move the strike last word.
▶ 4:23:25Gentleman is recognized for five
▶ 4:23:28After reviewing this amendment, this amendment would impose a new beneficial o owner regime by rulemaking on issuers and does not meet the spirit of the bill we are we're considering. Not only that uh but this amendment makes substantial changes to the def definition of held of record uh changes that have not been considered in a hearing or discussed amongst our members before today. I would urge my colleagues to oppose this amendment. Uh the underlying bill here does help small businesses.
▶ 4:23:53It helps them grow without having to uh and compete on a worldwide stage uh without having them uh to waste or spend money um on these uh on these uh on filing a public registration. Uh so again I urge my colleagues to oppose this amendment and I yield back.
▶ 4:24:14Gentleman yields back. Anyone else seek recognition on uh this waters amendment? Uh hearing none, we'll move to vote on Miss Waters amendment to the Garbrino ANS. All those in favor, please say I.
▶ 4:24:29All oppose say nay. Nay. Opinion of the chair. The naysay have it and the amendment is not agreed to. Is there further debate or further amendments to the Garbrino There being no further discussion or amendments to the bill, question now occurs on adoption of the amendment and nature of a substitute. All those in favor so signify by saying I. I.
▶ 4:24:55All those opposed signify by saying nay. Opinion chair the eyes have it. The amendment is adopted. Question now occurs on ordering the bill as amended to be reported to the house with a favorable recommendation. Those in favor shall signify by saying I. I. All those opposed signify by saying nay. Penn chair the eyes have it. Gentleman from New York.
▶ 4:25:14Mr. Chairman, I I ask for recorded vote.
▶ 4:25:16Gentleman from New York requests a recorded vote. All those in favor of recorded vote, raise your hands. A sufficient number having raised their hand. A recorded vote is ordered. Pursuant to subsection C5 of rule three of the committee rules, a vote on this question is postponed. We'll now move to the next bill. Pursuant to notice, I call up HR 3959, Protecting Private Job Creators Act, which was introduced by the gentleman from Montana, Representative Downing. The clerk will report the bill which was distributed in advance.
▶ 4:25:46HR 3959 to accept accept quotations of fixed income securities from certain regulatory requirements and for other
▶ 4:25:54Without objection, the bill is considered read and open to amendment at any point. Representative Downing has an amendment in the nature of a substitute, copies of which were distributed in advance. The clerk will report that
▶ 4:26:04An amendment in the nature of a substitute to HR 3959 offered by Mr. Downing of Montana designated as HR 3959
▶ 4:26:13Without objection, the amendment's considered read and will serve as base text for the purposes of amendment. The gentleman from Montana, Mr. Downing, you're now recognized for five minutes to discuss your amendment.
▶ 4:26:22Well, thank you very much, Mr. Chairman. I'd also like to thank Congressman Cleo Fields for joining me in introducing HR 3959, the Protecting Private Job Creators Act, to provide certainty to the fixed income market. Just last week, the House passed a capital formation package by a strong bipartisan vote to make it easier for small businesses to access our capital markets and easier for everyday investors to build wealth. Now, my legislation is another piece in reducing the regulatory burden on job creators.
▶ 4:26:53In 1971, the SEC issued rule which was designed to combat predatory penny stock schemes in the over-the-counter market by requiring broker dealers to verify an issuers's financial information prior to publishing prices for their securities. Now, to be clear, this rule has always been interpreted to apply to apply only to the OTC equities market.
▶ 4:27:17In 2021, the SEC staff decided that this rule now applies to the fixed income market, upending over a half century of interpretation and without a formal rulemaking process, causing significant market disruptions for the small and midsize companies who rely on the private debt market for financing. Now, this would have forced the exposure of proprietary information about private companies to the public for debt securities that are resold to qualified institutional buyers like pension funds and not salailable to the public.
▶ 4:27:47A study found that enforcing rule 15 C211 on the fixed income market could cost the United States a hundred billion dollars in GDP and result in a h 100,000 job losses each year, particularly in manufacturing. This issue has received a significant bipartisan attention ever since, including a 2022 letter signed by 10 Republicans and 10 Democrats on the Financial Services Committee asking the SEC to reverse course, which I request unanimous consent to submit for the
▶ 4:28:16Without objection.
▶ 4:28:17Uh, Mr. Chairman, I'd also like to submit for the record a statement of support from the Structured Finance Association for the Protecting Private Job Creators Act.
▶ 4:28:25Without objection.
▶ 4:28:26Thank Thank you. Uh thankfully the SEC has since realized the error of its ways and has granted numerous exemptive orders to delay enforcement of this rule, most recently without an expiration date. The SEC under former chair Gary Gendler stated providing relief was quote appropriate in the public interest and consistent with the protection of investors end quote. Still, permanent regulatory clarity is needed for the fixed income market, which is why my legislation would exempt fixed income securities from this rule once and for all.
▶ 4:28:56I'd like to thank the committee for advancing this legislation as well as capital markets chair Wagner for co-sponsoring and I urge my colleagues to support this bill. With that, Mr. Chair, I yield back.
▶ 4:29:06Gentleman yields back. Seeks recognition on the Downing bill. You only speak um I'm on
▶ 4:29:28u I um I'd like to speak on the bill, not a I don't have an amendment.
▶ 4:29:34Okay. Uh the ranking members recognize strike last word. Um, HR 3959 raises important questions about how we balance capital formation, market liquidity, and investor protections in the over-the-counter markets. This bill, however, does not strike the right balance. It takes a broad sword to the issue where a scaffold is required.
▶ 4:30:00HR 3959 would provide a blanket exemption for fixed income or debt securities.
▶ 4:30:08from an SEC rule that governs when and how broker dealers may publish quotations on the overthe-counter or OTC markets and facilitate trading. This rule was designed to promote transparency and has been the subject of significant deliberation at the SEC. For many years, market participants understood this rule to apply primarily to equity securities like stocks.
▶ 4:30:37However, after initially declaring that it also applies to debt securities in 2021, the SHC staff considered industry feedback and last year issued relief providing targeted conditional exemptions from the rule for fixed income securities where there are existing disclosure frameworks and reliable public information.
▶ 4:31:01The SEC sought to preserve liquidity for a legitimate fixed income markets while maintaining an investor protection screen tied to issue type information availability and product And this approach was widely praised by members of our committee and our financial markets were satisfied with it.
▶ 4:31:28Despite this, HR 3959 would ignore the balance the SEC struck. Most troubling, the dowing bill would enable bonds of non-existent companies to enter the markets. This is a serious breach of market integrity and it should not be allowed.
▶ 4:31:47Uh therefore, I would simply I'm my amendment um that I am not entering at this time would quantify the SEC's actions providing certainty to market participants and would ensure we aren't creating a pathway
▶ 4:32:17for unscrupulous brokers to advertise security from bankroll uh bankrupt operatives companies. We've seen some brokers do this on social media and YouTube using baller room tactics that pedal zombie securities to unsuspecting retail investors. SEC's prior actions that put a stop on the trades of these zombie securities and my amendment should I have an amendment which I'm not speaking to.
▶ 4:32:43I'm speaking to basic of the bill uh would have maintained guardrails and so my amendment would also should I have the amendment preserve the SEC's antifra securities. So I urge everyone to oppose HR 3959 is drafted and vote in favor um and not vote in favor of my amendment because I choose not to have it at this time I guess right.
▶ 4:33:13Gentleoman yields back. [clears throat] Uh, does anyone seek recognition on Mr. Downing's underlying ANS? I'll recognize myself for five minutes.
▶ 4:33:25First, let me start by saying I want to thank members on both sides of the aisle for their excellent work on the Invest Act, which was our bipartisan set of capital formation bills that are a real legacy to the original jobs act from 2012. I appreciate all the members that came together last week to pass that across the House floor. We had 302 votes in favor of the House. Truly a bipartisan accomplishment.
▶ 4:33:53I want to thank uh our chair of the capital markets subcommittee uh Miss Wagner for her leadership. I want to thank her staff, Zach, Bridget, and Dylan for their dedicated work on this bill. Want to thank the opportunity to work with Mr. Meeks, Mr.
▶ 4:34:09Godheimer who helped uh work on the that package as well and the majority and minority members who worked on capital formation all through this first year of 2025 of the 119th Congress and I look forward to working with all the members ranking member particularly on housing and community banking and the work that we've commenced today was so good uh uh in 2026 I really look forward to that effort. Will the gentleman
▶ 4:34:39I would yield to the ranking.
▶ 4:34:41Well, thank you so very much. I just want to make one observation. I was uh absolutely um excited about the prospects of having a capital formations bill. Uh Miss Wagner and I had talked about it. She worked very hard and I think it makes a lot of sense particularly for our small businesses. And yes, it included the MDIs and the CDFIS and all of that which we all support.
▶ 4:35:11And so capital formation is extraordinarily important if we really care about small businesses. They need access to capital and we can be as creative as we can be in finding ways to create uh access to this capital and I think there's a lot more things we could do.
▶ 4:35:30So, I'm hopeful uh that we can have a clean bill on capital formation without uh the um attempts to includes other bills that really have nothing to do with really capital formation. It was a missed opportunity, but I look forward to working it again and trying it again. Thank you. I yield back.
▶ 4:35:52Thank you. I thank the ranking member and I look forward to working with you on our shared priorities in in 2026, the second session, 119th Congress. I want to thank Representative Downing for his bill on protecting private job creators act. I think amending 15 C211. That SEC rule is important in the sense that the commission has done it.
▶ 4:36:13But what uh Representative Downing does is he makes this a permanent change in law which gives uh uh offers of fixed income securities the certainty of that and obviously the SEC will maintain all oversight of that including the fraud statutes that were referenced. So I want to offer my support for representing Downy's work and I yield back the balance of my time. uh may yield to Miss Wagner.
▶ 4:36:45I uh thank you, Mr. Chairman, and I do move to strike the last word. And I want to thank also uh uh an esteemed member of the capital market subcommittee uh Congressman Downing for his lead co-sponsorship along with Congressman Fields uh for introducing the Protecting Private Job Creators Act.
▶ 4:37:05Uh, rule was originally adopted by the SEC to protect investors from fraud in the market. In 2021, however, the commission broke with uh 50 years of regulatory practice by attempting to apply this rule to the fixed income markets.
▶ 4:37:28This action was taken without without a public notice and comment process and had significant I think negative effects on fixed income market participants. So by carving out fixed income securities from rule 15C2 uh-11. This bill recognizes that there are significant differences between trading in the equity and the fixed income markets.
▶ 4:37:56and it provides clarity for market participants uh going forward. And I urge support for this essential bipartisan piece of legislation. And Mr. Mr. Chairman, I'd just like to say um uh that it was a pleasure last week to move the Invest Act uh under your leadership uh uh through our financial services committee, bring it to the floor of the uh of the House and we worked on so many of those pieces of legislation with the ranking member and I am
▶ 4:38:26grateful for her continued collaboration um in that regard. Some 19 of those 22 bills uh were suspension worthy and passed this committee. um in very very large numbers. And by getting uh a 302 on the floor vote um out of um out of the the US House of Representatives, we're going to now be able, Mr.
▶ 4:38:49Chairman, to package that that piece of legislation up in its entirety, all 22 individual bills, and we're going to be able to send that over to the Senate. And uh and I think we're going to be able to make law make law that's going to to to help, as the ranking member pointed out, small businesses and and medium-sized businesses. It's going to help the the retail investor.
▶ 4:39:12something I spent a lifetime trying to to to lift up those everyday uh retail investors that are trying to save for the future, save for their retirement, save for a rainy day, for education, for um that dream vacation, whatever it is that they possibly uh can have. And it's going to help more and more of our companies um be able to go public.
▶ 4:39:37We have had too many ownorous regulations that have prevented that over the last uh decade or more and it's time that that changes and the invest act gets that done. Mr. Chairman, uh I was grateful to be able to uh be a part of leading that effort. I'm proud of every member of the capital markets subcommittee, the entire team that got that done and we're on to the Senate and then on to make sure uh that the president of the United States, President Trump, signs this into law.
▶ 4:40:06So, uh, with that, Mr. Chairman, I yield back the balance of my time. And I do do, uh, want to thank, uh, Congressman Downing for his his effort and his piece of legislation here, and I and I, uh, would ask all our colleagues to support your efforts. Yield back.
▶ 4:40:23Gentlewoman yields back. Uh, appreciate that comments. Anyone else seek recognition on Mr. Downing's bill? Does anyone offer an amendment on Mr. Downing's bill? There being no further discussion or amendments to the bill, the question now occurs on the adoption of the amendment nature of a substitute. All those in favor please say I. I. All those opposed, please say nay.
▶ 4:40:44In the opinion share of the eyes have the amendment is adopted. Question now occurs on ordering the bill as amended to be reported to the house with a favorable recommendation. Those in favor shall signify by saying I. I. All those opposed shall signify by saying nay.
▶ 4:40:58In the opinion of the chair, the eyes have it. For what purpose does the gentleman from Montana seek recognition?
▶ 4:41:03Mr. Chairman, I request the y's and n.
▶ 4:41:05The gentleman from Montana requests a recorded vote. All those in favor recorded vote, raise your hands. A sufficient number having raised their hand, a recorded vote is ordered. Pursuant to subsection C5 of rule three of the committee rules, a vote on this question or postponed. Pursuant to the previous order, the chair declares the committee in recess. Subject to the call of the chair. We will reconvene in this room at 3 p.m. for votes.
▶ 4:41:28The committee stands in committee
▶ 5:52:04will reconvene. Pursuant to the chair's previous order will now tell the vote take the vote pending on ordering HR6644 as amended favorably reported. Members will vote electronically. The clerk will open the vote.
▶ 5:52:48Mr. Flood.
▶ 5:52:50Mr. Flood. There's any member who has not voted. Any member like to change their vote?
▶ 5:53:07Clerk will close the vote and report.
▶ 5:53:10Mr. Chairman, on this vote, the eyes are 50 and the nays are one.
▶ 5:53:14Majority having voted in favor of HR6644 is amended. The bill is ordered favorably reported to the House. Without objection, a motion reconsider is laid on the table. We'll now take the vote pending on ordering HR 1078 as amended. Favorably reported. Members will vote electronically. The clerk will open the
▶ 5:53:52Is there any
▶ 5:53:54Is there any member who has not voted? Any member would like to change their vote? Clerk will close the vote and Mr. Chairman, on this vote, the eyes are 29 and the NAS are 22. Majority having voted in favor of HR1078 as amendment, the bill is ordered favorably reported to the House. Without objection, a motion to reconsider is laid on the table. We'll now take the vote pinning on ordering HR 4646 as amended. Favorably reported. Members will vote electronically.
▶ 5:54:45Rose. Okay. Any member who has not voted? Any member who'd like to change their vote? Clerk will close the vote and report.
▶ 5:54:55Mr. Chairman, on this vote, the eyes are 51 and the nays are zero. Majority having voted in favor of HR 4646 is amended. The bill is ordered favorably reported to the House. Without objection, a motion to reconsider is laid on the table. We'll now take the postponed votes pending amendments to The question is on the amendment offered by ranking member Waters. This is HR6541 01. Clerk will open the vote.
▶ 5:55:26Thank you. Is there any member who hasn't voted or would like to change their vote? A majority having voted against the amendment. The amendment is not agreed
▶ 5:55:44I'm sorry. Clerical report.
▶ 5:55:48Mr. Chairman, on this vote, the eyes are 23 and the naysay are 28.
▶ 5:55:53A majority have vote against the amendment. The amendment is not agreed to. The question now occurs on the adoption of the amendment in the nature of a substitute. All those in favor please say I. I. All those opposed will signify by saying nay. The pent chair the eyes have it. The eyes have it and the amendment in the nature of a substitute is agreed to. The question now occurs on ordering the bill as amended reported to the house with a favorable recommendation. Those in favor shall signifi signify by saying I. I. All those opposed signify by saying nay.
▶ 5:56:22Opinion of the chair the eyes have it. For what purpose does Representative Stzman seek recognition?
▶ 5:56:29The gentleman requests a recorded vote. All those in favor of recorded vote, raise your hands. A sufficient number having raised their hand, a recorded vote is ordered. We will now take the vote on ordering the bill as amended, favorably reported. The clerk will open the vote.
▶ 5:57:03clerk will does has any member not
▶ 5:57:07Any member like to change their vote? Clerk will close the vote and report.
▶ 5:57:12Mr. Chairman, on this vote, the eyes are 28 and the Naz are 23. A majority having voted in favor of HR6541 as amended. The bill is ordered favorably reported to the House. Without objection, the motion to reconsider is laid on the table.
▶ 5:57:26We'll now take the vote pending on ordering HR 4130 as amended. Favorably reported. The members will vote electronically. The clerk will open the
▶ 5:57:35Send a message. We're on it. We're on top of it. We're going to fix it. We're going to do it.
▶ 5:57:41Give me six more so I can
▶ 5:57:52Is there any member who has not voted?
▶ 5:57:54Any member who'd like to change their
▶ 5:57:57Clerk will close the vote and report.
▶ 5:57:59Doesn't matter.
▶ 5:58:01Mr. Chairman, on this vote, the eyes are 28 and the nays are 24.
▶ 5:58:04Majority having voted in favor of HR4130 as amended, the bill is ordered, favorably reported to the House. Without objection, a motion to reconsider is laid on the table. doing things.
▶ 5:58:14We'll now take the vote pending on ordering HR 3959 as amended. Favorably reported. The members will vote electronically. The clerk will open the vote.
▶ 5:58:31The devil always.
▶ 5:58:33Is there any member who has not voted?
▶ 5:58:40Mr. Lee. Oh, there you go. Is there any member who has not voted or would like to change their vote? Clerk will close the vote and report.
▶ 5:58:51Mr. Chairman, on this vote, the eyes are 41 and the nays are 11.
▶ 5:58:54A majority having voted in favor of HR 3959. As amended, the bill is ordered favorably reported to the House. Without objection, a motion to reconsider is laid on the table. Without objection, the staff are authorized to make necessary and conforming changes to the bill considered in pursuit to House Rule 11, clause 2L. I give notice that all members will have the requisite number of days to file supplemental, minority, additional or desending views. There being no further business, pending before the committee, merry Christmas, happy Hanukkah, happy new year.