U.S. Sen. Ted Cruz (R-Texas) announced on Mar. 12 that he voted against the 21st Century ROAD to Housing Act, citing several concerns about the bill's provisions and its potential impact on housing policy.
Cruz said that while lowering housing costs is a priority for the Republican Congress, he believes this legislation does not achieve that goal. He stated, “Lowering housing costs for all Americans is a priority for this Republican Congress, but this bill falls far short of that goal.”
One of Cruz’s main objections is related to central bank digital currency (CBDC). He noted that although the bill prevents the Federal Reserve from issuing a CBDC, it only pauses development until December 31, 2030. “Although this legislation prevents the Federal Reserve from issuing a central bank digital currency (CBDC), it only pauses the development until December 31, 2030. My Anti-CBDC Act takes the correct approach by permanently prohibiting the Federal Reserve from ever issuing a CBDC, directly or indirectly,” Cruz said.
He also raised concerns about restrictions on build-to-rent homes and federal involvement in local zoning decisions. “I agree with President Trump that large banks should not be buying single-family homes. Unfortunately, this legislation goes beyond that principle and restricts those hoping to build new rental housing for Americans by requiring build-to-rent homes to be sold within seven years. Restricting the supply of newly built rental units should not be enshrined in law,” he said. Additionally, Cruz criticized giving authority over zoning and land-use frameworks to federal officials: “Washington bureaucrats should not dictate zoning decisions for local communities like my hometown of Houston.”
Cruz further warned about possible future regulatory actions: “The bill also risks giving a future Democratic administration the ability to impose policies like a rent moratorium by granting the Treasury Secretary broad authority to rewrite key provisions through the regulatory state.”
Looking ahead, Cruz expressed hope for changes during conference negotiations: “I remain optimistic that House Financial Services Chairman French Hill can address these significant concerns through the conference process. I look forward to working toward a final product that actually makes housing more affordable for all Americans instead of expanding the government’s authority to regulate who buys homes.”
Cruz has previously won multiple Senate elections in Texas; in 2024 he defeated Colin Allred in the general election with 53.1% of votes compared to Allred's 44.6%, according to official results. In earlier races, Cruz defeated Beto O'Rourke in 2018 with 50.9% of votes and Paul Sadler in 2012 with 56.5%, as reported by election data.
