Trump says he won't sign SAVE Act housing bill, letting it become law without him
President Donald Trump says he will not sign the SAVE Act, a bipartisan housing bill aimed at lowering home costs and curbing institutional investors, though it will still become law automatically without his signature. Congress passed the bill in June with broad bipartisan support.
Speaking to reporters, Trump said he would not sign the SAVE Act despite its passage through Congress, though the bill will still become law automatically without his signature. Under the US Constitution, a bill becomes law without presidential approval if the president neither vetoes it nor signs it within ten days while Congress remains in session.
The SAVE Act aims to slow the rise in home prices and imposes new restrictions on institutional investment funds that buy up single-family homes in bulk. Congress passed the bill in June with broad support from both Republicans and Democrats in the House and Senate.
Trump's decision not to sign is being read more as a symbolic gesture than an objection to the bill's substance, since it will take effect regardless. Housing-cost pressure remains one of the top economic concerns for voters ahead of next year's US midterm elections.
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