(NewsNation) — President Donald Trump will take his affordability and economic agenda to Pennsylvania Tuesday, where he is scheduled to speak at a Mack Trucks facility in Macungie, located in a key swing congressional district.
The appearance comes as Congress moves closer to what supporters describe as the biggest housing overhaul in decades — legislation aimed at making homeownership more attainable for millions of Americans.
Trump is expected to highlight the Senate’s 85-5 vote Monday on the bipartisan housing package, which aims to lower housing costs by increasing the supply of homes and limit some of the competition families face from large investors that own hundreds of single-family properties.
The United States is estimated to be short more than four million homes. Supporters said the shortage has fueled higher prices and pushed homeownership further out of reach for many Americans.
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Davis Ingle, a White House spokesperson, said on Tuesday that Trump has emphasized that it’s time to “restore fairness to the housing market and put families first.”
Tackling home prices
The bill seeks to address the problem on multiple fronts. It would speed up federal permitting and environmental reviews, provide incentives for communities that make it easier to build affordable housing and reduce financing and regulatory barriers for manufactured homes, which are typically less expensive than traditional construction.
According to an analysis by the National Association of Home Builders, nearly three out of four U.S. households cannot afford the median-priced new home, which costs roughly $460,000.
Supporters argue building more homes more quickly is the only way to close that affordability gap.
Addressing the housing shortage
The legislation would also create a pilot program aimed at making mortgages of $100,000 or less easier to obtain.
The bill’s broad support reflects the growing concern among Americans over rising costs. Democrats secured provisions aimed at curbing the influence of some of the nation’s largest investors and expanding support for affordable housing. While Republicans won measures designed to streamline permitting and give private builders greater flexibility.
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When Trump speaks later Tuesday, he is expected to point to the legislation as a rare example of bipartisan cooperation in addressing the nation’s housing affordability crisis.
The House is expected to vote on the measure later this week.
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