The Senate Banking Committee's bipartisan "ROAD to Housing Act" includes a provision banning the Fed from issuing a CBDC before 2031.
The Senate Committee on Banking, Housing and Urban Development included a provision temporarily barring the Federal Reserve from issuing a central bank digital currency in its bipartisan bill to boost housing in the U.S. The " 21st Century ROAD to Housing Act ," introduced Monday by Committee Chairman Tim Scott and Ranking Member Elizabeth Warren, respectively the top Republican and Democrat on the committee, aims to make it easier to build houses in the U.S. "Not only is this bill about cutting regulatory red tape, lowering costs, and expanding housing supply while generating no new spending, but it’s about making sure people like the single mom who raised me in North Charleston, South Carolina, have even greater access to economic opportunity and the American dream of homeownership," Scott said in a statement. "The package includes the vast majority of the Senate’s unanimously supported ROAD to Housing Act, incorporates bipartisan housing ideas from the House, and takes a good first step to rein in corporate landlords that are squeezing families out of homeownership," Warren said in her own statement.