Tim Scott Left Stunned After Senate Banking Committee Unanimously Approves Legislation

Forbes Breaking News

During a Senate Banking Committee hearing on Tuesday, Sen. Tim Scott (R-SC) remarked about the unanimous approval of the ROAD To Housing Act of 2025.

Transcript

00:00Thank you, Senator Long.

00:01Thank you, Mr. Chairman.

00:03I would like to move this amendment and then I'm going to withdraw it.

00:09The reason that I want to just call this to your attention is to plant a seed for further discussion at a later date.

00:18The Federal National Mortgage Association would be required pursuant to this amendment

00:24to consider digital assets in a mortgage loan risk assessment.

00:29Now, what we know is that about 67% of digital assets in this country are owned by people under 35

00:37and they are also the group that only has about 36% of home ownership.

00:46So they're most in need of home ownership opportunities,

00:51but they need the opportunity to have all of their assets counted in a risk assessment.

00:57This would call on our national mortgage entities to consider the value of their recognized digital assets

01:11in considering their mortgage suitability.

01:16I want to discuss it at a later date.

01:19Now is not the time because this bill is in such good shape going forward.

01:24I want to compliment you, Mr. Chairman, as well as everyone on both sides of the aisle

01:30for your hard work in bringing this bill to the floor.

01:33And with that, Mr. Chairman, I withdraw the amendment.

01:36Thank you very much.

01:37There are no further amendments.

01:39The question is now on ordering the bill, the Road to Housing Act of 2025.

01:43I urge all my colleagues to support the bipartisan legislation.

01:46The clerk will call the roll.

01:47Mr. Chairman?

01:50Aye.

01:51Mr. Crapo?

01:52Aye.

01:53Mr. Rounds?

01:55Aye.

01:56Mr. Tillis?

01:57Aye.

01:58Mr. Kennedy?

01:59Aye.

02:00Mr. Hagerty?

02:01Hagerty's aye.

02:03Ms. Lummis?

02:04Aye.

02:05Mrs. Britt?

02:06Aye.

02:08Mr. Ricketts?

02:09Aye.

02:09Mr. Banks?

02:11Aye.

02:12Mr. Kramer?

02:13Aye.

02:14Mr. Moreno?

02:16Aye.

02:16Mr. McCormick?

02:19Aye.

02:20Ms. Warren?

02:21Aye.

02:23Mr. Reed?

02:25Aye.

02:26Mr. Warner?

02:27Aye.

02:29Mr. Van Hollen?

02:31Aye.

02:32By proxy?

02:35Ms. Cortez Masto?

02:36Aye.

02:38Ms. Smith?

02:39Aye.

02:40Mr. Warnock?

02:41Aye.

02:43Mr. Kim?

02:44Aye.

02:44Mr. Gallego?

02:46Aye.

02:49Ms. Blunt-Rochester?

02:51Aye.

02:53Ms. Also-Brooks?

02:54Aye.

02:58I have 24 ayes, zero nays.

03:01Can you say that one more time?

03:02That is 24 ayes, zero nays.

03:16Let us pray.

03:17Okay.

03:18Will you leave us forever?

03:19We're not going to...

03:20Hallelujah.

03:21Okay.

03:22The ayes have it.

03:23The road to housing and aides of 2025 is hereby ordered reported to the full Senate.

03:27I ask unanimous consent that the staff be allowed to make technical and conforming changes and

03:33that the cordon rule be waived any objection hearing no objections to order.

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