The Senate passed the 21st Century ROAD to Housing Act in an 85–5 bipartisan vote, marking a major effort to address rising housing costs ahead of the midterm elections.

The bill aims to increase housing supply, reduce regulatory barriers, and limit institutional investors from buying certain single-family homes.

It reflects months of negotiation between House and Senate lawmakers and is described as one of the most significant housing laws in decades.

Supporters from both parties say it will help improve affordability and expand homeownership opportunities, though some provisions differ between chambers, CBS News has reported.

The legislation now moves to the House, where it is expected to advance quickly toward final approval.