Alsobrooks Votes to Pass Monumental Package of Bills to Lower Cost of Housing

Package Included Four Major Initiatives Alsobrooks Championed

July 29, 2025 

WASHINGTON, DC – Senator Angela Alsobrooks (D-Md.) voted to pass the Banking Committee’s bipartisan housing package. The Renewing Opportunity in the American Dream to Housing Act of 2025 includes legislation that expands and preserves the housing supply, improves housing affordability and access, and cuts red tape. Senator Alsobrooks co-sponsored and successfully fought to include the following bills in the package: 

1. The Bipartisan Community Investment and Prosperity Act – Raises the Public Welfare Investment cap for banks, which will increase financing of housing projects, particularly in Baltimore.
2. The Bipartisan Whole-Home Repairs Act – Creates a pilot program for low- and middle-income homeowners to use federal funds to make home repairs.
3. The HOME Investment Partnerships Reauthorization and Improvement Act – Reauthorizes HOME, the federal government’s flagship affordable housing grant program for states and cities. Maryland received over $18 million in HOME funding in 2024; today’s package ensures this will continue. 
4. The Appraisal Modernization Act – Combats bias in home equity valuations to ensure that all Americans have an opportunity to build generational wealth. 

The Road to Housing Act of 2025 passed unanimously out of the Committee. 

This is the Committee’s first bipartisan markup of housing legislation in more than a decade – a true testament to our nation’s desperate need to address the housing crisis, make home ownership a reality, and fight to bring down the cost of rent.

“Home ownership is one of the surest paths to building wealth. By making housing more affordable, we are blazing new pathways for Americans to build generational wealth and provide for their families,” said Senator Alsobrooks.  

“NHS of Baltimore strongly supports the efforts of Sen. Alsobrooks to raise the Public Welfare Investment cap for banks.  This cap limits the amount of investments banks are allowed to make into community serving organizations.  Raising the cap will provide additional opportunities for banks to partner with communities bringing investment to where it is needed most,” said Dan Ellis, Chief Executive Officer, National Housing Service of Baltimore.

WATCH ALSOBROOKS’ FULL REMARKS FROM COMMITTEE MARKUP HERE 

Section-by-section of the bill is here.

Legislative text is here.

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