Saving the American Dream Act

Bill Number

H.R. 5387

Origin Chamber

House

Congress

119th Congress, Session 1

Policy Area

Housing and Community Development

Status

Introduced

Latest Action

2025-10-01: Referred to the Subcommittee on Economic Opportunity.

Last Updated

2026-06-24T08:08:42Z

AI-Generated Summary

Purpose of the Legislation

The "Saving the American Dream Act" (H.R. 5387) aims to enhance coordination among key federal agencies on housing policy. It requires these agencies to share data and develop joint proposals to address challenges in housing affordability, production, finance, and recovery, ultimately supporting evidence-based decisions to improve access to housing for Americans.

Key Provisions

• Memorandum of Understanding (MOU): Within one year of enactment, the heads of five federal agencies—the Secretary of Housing and Urban Development (HUD), Secretary of Agriculture, Secretary of Veterans Affairs (VA), Secretary of the Treasury, and Director of the Federal Housing Finance Agency (FHFA)—must create an MOU or similar agreement. This will enable sharing and coordinating housing-related research and market data to inform policymaking.
• Interagency Report: Within one year of enactment, these agency heads must jointly submit a report to specified congressional committees. The report must include policy proposals addressing:
• Coordination of federal housing finance programs.
• Ways to reduce mortgage origination (the process of creating a loan) and servicing (ongoing loan management) costs by standardizing underwriting (loan approval criteria) and servicing rules where possible.
• Factors driving up housing construction costs, barriers to building new homes, and incentives for development.
• Local government rules or regulations that hinder housing production.
• The impact of insurance costs and availability on housing markets.
• Programs for down payment assistance (help with initial home purchase costs) and incentives for housing transactions.
• Strategies for building disaster-resistant housing and coordinating recovery efforts after disasters.

Significant Changes to Existing Law

This bill introduces new requirements for interagency collaboration and reporting, which do not appear to amend prior laws directly. It mandates formal data-sharing agreements and a comprehensive policy report, filling gaps in current federal housing coordination by requiring proactive joint proposals on affordability and production issues.

Potential Impacts

• On Government Agencies: Increases administrative workload for HUD, USDA, VA, Treasury, and FHFA through MOU development, data sharing, and report preparation. It could streamline future policymaking by improving access to shared data, potentially leading to more efficient federal housing programs.
• On Citizens: May indirectly benefit homebuyers, renters, and communities by informing policies that lower housing costs, reduce barriers to new construction, and enhance disaster recovery support, making housing more affordable and accessible.
• On International Relations: No direct impacts, as the bill focuses solely on domestic U.S. housing policy.

Main Stakeholders Affected

• Federal Agencies: HUD, USDA (which oversees rural housing programs), VA (veterans' housing benefits), Treasury (financial oversight), and FHFA (regulation of housing finance entities like Fannie Mae and Freddie Mac).
• Congressional Committees: Senate and House committees on banking, finance, veterans' affairs, and related areas, which will receive and review the report.
• Housing Industry and Local Governments: Builders, lenders, insurers, and local regulators, as proposals target construction barriers, costs, and incentives.
• Citizens and Communities: Homebuyers, veterans, rural residents, and disaster-prone areas, who could see improved housing options and support.

Notable Legal, Constitutional, or Political Implications

• Legal Implications: The bill imposes clear deadlines and reporting duties on agency heads, enforceable through congressional oversight. It promotes administrative cooperation without creating new enforcement mechanisms or altering agency budgets.
• Constitutional Implications: Aligns with Congress's authority under Article I to regulate commerce and appropriate funds, including housing finance. No apparent conflicts with federalism, though it addresses local barriers, which could encourage voluntary state and local reforms.
• Political Implications: Bipartisan sponsorship (from both parties) signals broad support for housing affordability. The focus on evidence-based proposals could influence future legislation, but implementation depends on agency resources and political priorities, potentially sparking debates on regulatory reforms or federal overreach into local zoning.

This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.

Sponsor

Rep. Alford, Mark [R-MO-4]

Cosponsors (38)

Rep. Correa, J. Luis [D-CA-46], Rep. Mann, Tracey [R-KS-1], Rep. Pettersen, Brittany [D-CO-7], Rep. Lawler, Michael [R-NY-17], Rep. Riley, Josh [D-NY-19], Rep. Calvert, Ken [R-CA-41], Rep. Wittman, Robert J. [R-VA-1], Rep. Sherman, Brad [D-CA-32], Rep. Houchin, Erin [R-IN-9], Rep. Craig, Angie [D-MN-2], Rep. McBride, Sarah [D-DE-At Large], Rep. Subramanyam, Suhas [D-VA-10], Rep. Reschenthaler, Guy [R-PA-14], Rep. Garcia, Robert [D-CA-42], Rep. Harder, Josh [D-CA-9], Rep. Friedman, Laura [D-CA-30], Rep. Vindman, Eugene Simon [D-VA-7], Rep. Gillen, Laura [D-NY-4], Rep. Levin, Mike [D-CA-49], Rep. Barrett, Tom [R-MI-7], Del. Moylan, James C. [R-GU-At Large], Rep. Pou, Nellie [D-NJ-9], Rep. Carbajal, Salud O. [D-CA-24], Rep. Begich, Nicholas J. [R-AK-At Large], Rep. Deluzio, Christopher R. [D-PA-17], Rep. Omar, Ilhan [D-MN-5], Rep. Whitesides, George [D-CA-27], Rep. Min, Dave [D-CA-47], Rep. Neguse, Joe [D-CO-2], Rep. Tran, Derek [D-CA-45], Rep. McDonald Rivet, Kristen [D-MI-8], Rep. Suozzi, Thomas R. [D-NY-3], Rep. Espaillat, Adriano [D-NY-13], Rep. Menendez, Robert [D-NJ-8], Rep. Meng, Grace [D-NY-6], Rep. Shreve, Jefferson [R-IN-6], Rep. Wasserman Schultz, Debbie [D-FL-25], Rep. Kennedy, Timothy M. [D-NY-26]

Recent Actions

• 2025-10-01: Referred to the Subcommittee on Economic Opportunity.
• 2025-09-16: Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• 2025-09-16: Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• 2025-09-16: Introduced in House
• 2025-09-16: Introduced in House

Bill Versions

• Saving the American Dream Act — issued 2025-09-16 — PDF (4 pages)