Housing affordability bill is headed for Trump's desk, starting 10-day clock for him to sign or veto

A sweeping housing affordability bill appears headed for President Trump’s desk following a meeting on Thursday with House Speaker Mike Johnson to salvage the bipartisan legislation.

Trump had abruptly canceled plans via a Truth Social post on Wednesday to sign the measure aimed at increasing housing supply, lowering costs, and restricting large corporate investors’ role in the market. The bill became entangled in House negotiations over other legislation, including the SAVE AMERICA Act, a controversial voting bill that Trump wants enacted.

But beyond saying the signing was canceled, Trump gave little indication whether he supports the housing measure, which he declared “of minor importance.”

If he vetoes it, it would return to Congress, where a two-thirds majority in each chamber is needed to override. A veto override is a strong possibility as the 21st Century ROAD to Housing Act was passed by overwhelming margins: 358-32 in the House and 85-5 in the Senate.

The president could also ignore the bill once it reaches his desk, and it would become law automatically after 10 calendar days, excluding Sundays.

But before that clock could start, the legislation had to be formally presented to Trump. During the chaotic hours in the capital, after Trump canceled the signing and congressional leaders scrambled to regroup, it sat in a constitutional limbo, having passed Congress but not yet reached the president’s desk.

After Trump and Johnson met on Thursday, the speaker clarified the situation.

“We’re transmitting the housing bill to the White House,” Johnson told reporters, adding that the meeting was productive and the two leaders are now “exactly on the same page.”

Johnson was one of 166 Republicans who voted for the housing measure, which aims to improve home affordability by streamlining environmental review processes that can slow homebuilding, creating new grants to boost housing supply, easing construction requirements for manufactured homes, restricting institutional investors in the single-family home market, and expanding financing options,

Housing costs have become a top concern for many Americans. Nationwide, home prices have risen more than 50% on average since the pandemic, while rents are up over 30%. But Trump’s engagement on the topic has wavered. He has cast doubt on his support for the bill, saying he does not want home prices to decline, hurting current homeowners whose wealth is tied up in their home equity. His biggest priority: lower interest rates.

Still, he was set to sign the bill at noon on Wednesday. A backdrop with American flags had been set up in the Capitol, and House leaders were on stage touting the legislation when the president announced on social media less than two hours before the ceremony that he would not sign the bill.

The president’s next move is unclear, though Johnson’s announcement suggests the bill is back on track.

Advocates remain optimistic.

Jim Tobin, CEO of the National Association of Home uilders, told Yahoo Finance on Wednesday, “I do believe that this legislation will become law at some point.”