Trump cancels signing of landmark bipartisan bill aimed at lowering housing costs

Trump cancels signing of landmark bipartisan bill aimed at lowering housing costs

President Donald Trump cancelled his approval of landmark bill aimed at lowering Americans' housing costs just hours ahead of a planned signing ceremony at the US Capitol.

Both chambers of Congress had earlier approved the legislation in a rare bipartisan move, signalling how pressing the issue has become for American voters across the political divide.

Trump wrote on social media that he would not sign the bill until a separate law on stringent voter ID requirements is passed. But unless the president vetoes the housing bill - or Congress adjourns - it could become law after ten days.

The bill, known as the 21st Century ROAD to Housing Act, has two key aims: reducing housing costs and increasing housing supply. Experts have described the bill as the most comprehensive action from Congress on housing policy in the 21st century.

"That was his call to make," Senate Majority John Thune told CNN ahead of a planned lunch with Senate Republicans and the president. "What I would say is that the bill is a bill that's been worked on for a long time. It's an affordability issue, and eventually I hope he'll find his way to sign it."

The Safeguard American Voter Eligibility Act (SAVE) requires Americans to provide ID and proof of citizenship to vote. Trump has championed the measure, but Republicans, who control the House and the Senate, have said there is not enough support to get the measure over the finish line.

The median home price in the US is roughly $403,000, up from about $223,000 in 2010, according to data from the Federal Reserve Bank of St Louis. A US family needs an income of about $117,000 a year to afford an average home on the market, according to the real estate broker Redfin, but that is nearly $30,000 more than what most US households earn, according to Census data.