# 119-s-934: American Housing and Economic Mobility Act of 2025 119-s-934, American Housing and Economic Mobility Act of 2025, is a 119th Congress bill sponsored by Sen. Warren, Elizabeth [D-MA] (D-MA); status introduced; PRIA reads it as touching household money (as of 2026-04-21). - Canonical: https://policyrisk.com/legislation/119-s-934 - As of: 2026-04-21 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-s-934 - Congress: 119 - Title: American Housing and Economic Mobility Act of 2025 - Status: introduced - Introduced: 2025-03-11 - Sponsor: Sen. Warren, Elizabeth [D-MA] (D-MA) - Cosponsors: 9 - Policy area: Finance and Financial Sector - Touches household money: yes - Last recorded action: 2026-04-21 ## Summary **Boost housing affordability and expand homeownership access.** This bill would create new programs to help first‑time and first‑generation buyers, tighten mortgage‑sale rules to protect borrowers, and overhaul estate and trust tax rules to target wealth transfers. - Families and first‑time buyers: Would establish a HUD‑Treasury down‑payment grant program for eligible first‑time, first‑generation buyers. Grants would cap at 3.5% of a property’s appraised value and carry a 5‑year occupancy repayment rule with hardship exceptions. - Borrowers facing loan sales and foreclosures: Would require Fannie Mae and Freddie Mac to give at least 90 days’ written notice before selling covered mortgages and to ensure buyers offer loss‑mitigation as favorable as if the loan had not been sold. Failure to meet these rules would be an affirmative defense to foreclosure and bulk re‑performing loan sales must prioritize governments or nonprofits and offer post‑sale relief for borrowers more than 60 days delinquent. - Estates, trusts, and high‑wealth taxpayers: Would cut the estate tax exclusion to $3.5 million, add a 10% surtax on estates over $1 billion, tighten grantor trust rules, and impose a new surcharge on estates and trusts based on modified adjusted gross income. ## Cosponsors (9) - Sen. Warnock, Raphael G. [D-GA] (D-GA), 2025-03-11T00:00:00.000Z - Sen. Markey, Edward J. [D-MA] (D-MA), 2025-03-11T00:00:00.000Z - Sen. Sanders, Bernard [I-VT] (I-VT), 2025-03-11T00:00:00.000Z - Sen. Hirono, Mazie K. [D-HI] (D-HI), 2025-03-11T00:00:00.000Z - Sen. Welch, Peter [D-VT] (D-VT), 2025-03-11T00:00:00.000Z - Sen. Blumenthal, Richard [D-CT] (D-CT), 2025-03-11T00:00:00.000Z - Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-03-11T00:00:00.000Z - Sen. Kim, Andy [D-NJ] (D-NJ), 2025-03-11T00:00:00.000Z - Sen. Luján, Ben Ray [D-NM] (D-NM), 2025-03-14T00:00:00.000Z ## Provisions PRIA read - Large federal housing funding boost: benefit, high. If enacted, the bill would send large new money to housing programs. HUD would run a Local Housing Innovation grant program with $2 billion per year (FY2025–FY2029). The Capital Magnet Fund could be authorized at $3 billion per year and the Housing Trust Fund at $48 billion per year (both FY2025–FY… - Stronger homeowner sale protections: benefit, high. If enacted, the bill would add new protections when large mortgage holders sell or auction single‑family loans. Borrowers must get a separate written notice at least 90 days before a loan is placed in a sale. FHFA and HUD could not allow certain auction programs until they adopt notice‑and‑comment… - Tribal and Native Hawaiian housing money: benefit, high. If enacted, the bill would set explicit funding for Indian and Native Hawaiian housing programs. The Indian Housing Block Grant would be authorized at $2.5 billion for FY2025 and continued as such sums as necessary through FY2034. The Native Hawaiian Housing Block Grant would be authorized at $50 m… - Homebuyer and neighborhood aid: benefit, medium. If enacted, HUD would fund neighborhood stabilization and direct homebuyer help. The bill would authorize $5 billion for State grants to help homeowners in neighborhoods with an appraisal gap pay arrears, clear small liens, or fix homes. HUD would run a down payment assistance fund to give one‑time… - Stronger Fair Housing protections: benefit, medium. If enacted, the Fair Housing Act would explicitly include protections for gender identity, sexual orientation, marital status, source of income (including vouchers), and veteran status. The bill would protect 'actual or perceived' race and color and preserve certain targeted veterans housing progra… - New rules for community credit unions: benefit, low. If enacted, the NCUA could approve Federal credit unions to serve people in designated underserved local areas if the credit union is well capitalized and begins providing services within 24 months. Approved credit unions must report members and offices and the agency will publish compliance lists.… - Changes to vouchers and PHAs: benefit, low. If enacted, HUD would issue rules to let local public housing agencies consolidate some contracts and administration for vouchers, with rules due within one year. PHAs in metropolitan areas must do a regional location analysis at least every five years showing where voucher holders live and where a… - Limit agency collection of PII: benefit, low. If enacted, federal financial supervisors would be barred from using certain authorities to collect or analyze a consumer's personally identifiable financial information from regulated institutions. This would limit agency data gathering to protect consumer privacy. - Major estate, gift, and trust tax changes: mixed, high. If enacted, the bill would sharply change estate, gift, and trust tax rules. It would set a new estate tax schedule, lower the basic exclusion to $3,500,000, and add a 10% surtax for very large estates. The bill would create a $10,000 per‑donee simplified annual gift exclusion and cap some illiquid… - Bank CRA and supervision overhaul: mixed, high. If enacted, the bill would rewrite many Community Reinvestment Act and bank supervision rules. It would change how banks count and report community development loans and deposits, require machine‑readable loan and deposit data and an FFIEC public portal, expand assessment areas, and require communi… ## Related bills - 119-s-5066: Health Equity and Accountability Act of 2026 - 119-s-3990: PrEP Access and Coverage Act of 2026 - 119-s-2823: FAMILY Act - 119-s-51: Washington, D.C. Admission Act - 119-s-5108: Right to IVF Act of 2026 - 119-s-1503: Equality Act ## Sources - [119-s-934 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/934) ## Related - [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066) - [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990) - [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823) - [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51) - [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108) - [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-s-934 (as of 2026-04-21).