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EXCERPT:
WASHINGTON — The House appeared poised Tuesday to pass Congress’ most significant housing legislation in decades — a bid by both parties to show midterm voters that they’re paying attention to affordability concerns ahead of November’s election.
The legislation, which the Senate passed Monday, aims to boost the housing supply through dozens of targeted provisions whose effects are expected to be seen over the next several years. In California, measures to provide federal funding for housing production in big cities could be particularly significant.
The bipartisan agreement over the legislation, after weeks of negotiation, marks a highly unusual collaboration in the divided Congress. It reflects growing public pressure on Washington to address economic issues, at a time when Americans’ economic woes are deepening amid inflation, elevated gas prices and the ongoing effects of President Trump’s tariffs.
The bill aims to help housing supply by removing regulatory barriers to building affordable housing units, preventing large investors from buying up single-family homes and incentivizing housing production in cities with federal funding, among other measures.