- Key insight: Trump promises to not sign the bill, but has not said whether he plans to veto it or not.
- Forward look: The bill becomes law at midnight without Trump's signature or veto.
- What's at stake: A number of community bank-favored riders are in the bill, including two brokered deposit bills.
WASHINGTON — President Donald Trump posted on Truth Social that he will not sign the housing bill.
The housing bill aims to increase housing supply by cutting red tape for a number of programs that the bill's authors say will make it easier for new housing to be constructed. The scope of the bill, as far as housing construction goes, however, is relatively limited outside of the manufactured housing sector, so it's gained little attention from mortgage bankers themselves.
The package does include a
The bill is set to become law at midnight even without Trump's signature. He could still veto the bill — Trump's Truth Social post doesn't rule out the possibility — but the absence of any stated plan to veto the bill suggests he does not intend to stop the bill from becoming law without his signature.
The White House declined to comment on whether Trump will veto the bill or not.
"I will not sign the Housing Bill, which has been fully approved by Congress and sent to the White House, in PROTEST over the fact that the United States Senate is not capable of passing THE SAVE AMERICA ACT," Trump said in the post.
The SAVE Act is a Republican initiative to require voters to show certain forms of ID before voting, among other measures. Democrats have opposed the bill on the basis that there is little evident voter fraud for the bill to counter and smacks of an effort to dampen Democratic turnout.
The bill previously passed the House and Senate with veto-proof majorities, although it's unclear if Republicans would vote to overturn a veto right before midterm elections.
