The House Committee on Financial Services on December 11, 2025  unveiled its Housing in the 21st Century Act, a bipartisan package that would update programs to advance housing development and  affordability.

Chairman French Hill (R-AR) said in a statement, “Our goal is to chart a path forward toward greater development capacity and a simplified regulatory framework. I’m proud to advance this package with Ranking Member Waters, Subcommittee Chair Flood, and Ranking Member Cleaver to tackle housing costs and access challenges for American homeowners and renters.”

Ranking Member Maxine Waters (D-CA) emphasized that the bill is still evolving, stating, “I want to be clear, … that today’s introduction is not a final product, as I know there are many more important, bipartisan ideas that I and other Members of the House will want to include as the bill advances.”

The legislation would update vital Department of Housing and Urban Development (HUD) programs, including its Home Investment Partnerships Program (HOME), and also includes a requirement for the Government Accountability Office (GAO) to study barriers to scaling affordable housing supply through HUD Section 202 Supportive Housing for the Elderly and Section 811 Supportive Housing for Persons with Disabilities.

This week, starting December 16, the Committee will host a two-day markup to address the legislative proposal. LeadingAge will stay engaged on the bills to be considered by the House Financial Services Committee on December 16 and 17, which include some proposals that would expand affordable housing for older adults, a LeadingAge priority.