WASHINGTON, D.C., June 24 (ANI) — In a landmark move aimed at addressing the nation’s housing affordability crisis, President Donald Trump is set to sign the 21st Century ROAD to Housing Act into law on Wednesday at 12 p.m. local time on Capitol Hill.
In a post on X, White House Press Secretary Karoline Leavitt described the legislation as “one of the most significant pieces of housing affordability legislation in American history.” She said the bill serves as a direct legislative response to the President’s call to prioritize American families over large corporations in the housing market.
“Tomorrow at 12 PM on Capitol Hill, President Trump will sign into law the 21st Century ROAD to Housing Act, one of the most significant pieces of housing affordability legislation in American history. This bipartisan bill includes policies long championed by the President,” Leavitt wrote.
Highlighting the benefits of the legislation, Leavitt said the bill “cuts unnecessary red tape, helps increase housing supply, and limits the ability of large institutional investors to purchase single-family homes.”
She added that the law is intended to lower housing costs and make President Trump’s vision of the American Dream of homeownership more attainable for families across the country.
“As the President has said, homes should be owned by American families, not large corporations. President Trump promised to lower housing costs, and he is delivering, making it easier for every family to achieve the American Dream of homeownership. Tomorrow’s historic bill signing is another promise made, promise kept,” she said.
The legislation comes as recent U.S. economic data highlighted a continued rise in the cost of essential goods and services. Annual inflation increased to 3.8 percent for the 12 months ending in April, up from 3.3 percent in the previous period, according to data released by the U.S. Bureau of Economic Analysis (BEA).
The report showed spending growth was driven by categories including gasoline and other energy goods, housing and utilities, recreation services, food services and accommodations, health care services, and food and beverages.
Energy prices accounted for much of April’s increase, although growth slowed significantly. Energy costs rose 3.8 percent after a 10.9 percent surge in March, while gasoline prices increased 5.4 percent.
Housing-related costs also continued to climb. Shelter costs rose 0.6 percent during the month, while both owners’ equivalent rent and rent increased 0.5 percent. Lodging away from home surged 2.4 percent. On an annual basis, shelter costs are up 3.3 percent.
Food prices increased 0.5 percent after remaining flat in March. Food consumed at home rose 0.7 percent, while meats, poultry, fish, and eggs climbed 1.3 percent, led by a 2.7 percent increase in beef prices. Fruits and vegetables rose 1.8 percent. Annual food inflation stands at 3.2 percent.
Core inflation, which excludes food and energy, rose 0.4 percent. Household furnishings and supplies increased 0.7 percent, airline fares jumped 2.8 percent, and personal care costs rose 0.7 percent. Annual core inflation stands at 2.8 percent.
Overall, inflation remains higher than it was a year ago, although the pace of monthly price increases has moderated. Energy and housing continue to be the primary sources of inflationary pressure affecting household budgets across the country. (ANI)
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