Political Quotes

“Mr. Speaker, I say to Chairman Hill that in light of changes we agreed to today, I want to take a moment to make clarifications about the authority the Treasury has and should use related to the provisions banning large institutional investors from purchasing single-family homes. Under our bill, the Secretary of the Treasury, in consultation with the heads of HUD, FHFA, and SEC, may issue regulations to minimize market disruptions and negative impacts on consumers and communities. He and I both firmly agree that the bill allows Treasury to do this and that Treasury must use this authority to issue regulations and clarify the following things. First, the bill was not intended to impact military housing, student housing, disability housing, or LIHTC-supported housing, as defined in our earlier May 15, 2026, posted draft of this bill. This bill was also not intended to include or impact nonprofits or community land trusts that purchase single-family homes. These entities are not for-profit, large institutional investors. In addition, large institutional investors are still prohibited from buying properties with land contracts, again, as defined in our earlier May 15 posted draft. These are not subject to landlord-tenant laws and are harmful to renters.”