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Trump says he will not sign 21st Century ROAD to Housing Act
If the president neither signs nor vetoes the bill by Friday’s deadline, it would automatically become law at midnight Saturday, and Congress could override a veto if it chooses.
President Trump said he will not sign the 21st Century ROAD to Housing Act, according to HousingWire. The move sets up a scenario where the bill could still become law without his signature if it is not vetoed or signed by the applicable deadline.
HousingWire reports the bill is scheduled to automatically take effect at midnight Eastern time on Saturday if Trump does not veto or sign it by Friday’s deadline. If Trump issues a veto instead, Congress would have the option to override it, though that would likely add delay.
The timing follows congressional action that sent the housing package back to the White House, where Trump faced a 10-day window to decide whether to sign, veto, or let it become law without his signature. HousingWire also notes the package passed the House on June 23 by a vote of 358 to 32.
The legislation is designed to expand housing supply and remove barriers to ownership, HousingWire reports, with industry stakeholders expecting its passage. HousingWire also says the package effectively restricts institutional investors that already own 350 or more single-family homes from buying additional single-family properties, after revisions to the final version.