{"database": "press", "table": "releases", "rows": [["https://www.budd.senate.gov/2026/07/14/icymi-budd-bills-to-cut-red-tape-are-now-law/", "ICYMI: Budd Bills to Cut Red Tape for Community Banks, Expand Access to Housing Downpayment Assistance Are Now Law", "2026-07-14", "2026", "2026-07", "Republican", "Senate", "NC", "Ted Budd", "B001305", "www.budd.senate.gov", "budd", "https://www.budd.senate.gov/category/news/press-releases/page/", "scraper", "Washington, D.C. \u2014 In case you missed it, two bipartisan pieces of legislation introduced by U.S. Senator Ted Budd (R-N.C.) \u2014 the TRUST Act and the HOME Expansion Act \u2014 are now law, after the legislation\u2019s inclusion in the final version of the 21st Century ROAD to Housing Act, which passed the House and Senate.\n\nAbout the TRUST Act, Senator Budd said:\n\n\u201cBy allowing community banks to carry out their most important mission\u2014helping capital reach lenders to invest in their future homes and businesses\u2014we will help Main Streets across America thrive. I am grateful to this legislation\u2019s co-lead, Senator Kim, and our colleagues who supported this effort to reduce burdensome regulations so more Americans can access the capital they need to grow their families and keep our local economies strong. While we have more to do to help reform our banking system to help even more Americans achieve their version of the American dream, the TRUST Act\u2019s passage into law is a strong step toward modernizing the lending process.\u201d\n\nAbout the HOME Expansion Act, Senator Budd said:\n\n\u201cFirst-time homebuyers are often at a disadvantage as they juggle the associated costs of purchasing a home, while still responsible for monthly rent. At a time when demand for homes is increasing, and the available supply is short, I am proud that my HOME Expansion Act is now law so that we can help more families afford their first home by expanding eligibility to existing homebuyer assistance programs.\u201d\n\nBACKGROUND\n\nIn February, Senator Budd introduced the HOME Expansion Act, legislation to expand and modernize eligibility requirements for the U.S. Department of Housing and Urban Development\u2019s (HUD) Home Investment Partnerships (HOME) Program. These funds currently support the construction of affordable owner-occupied homes, housing rehabilitation, and first-time homebuyer assistance. Now, the law will help more Americans afford homeownership without increasing federal spending, allow more Americans to repair their homes after disasters, and support the construction of new affordable homes.\n\nSenator Budd also introduced the Tailored Regulatory Updates for Supervisory Testing (TRUST) Act with Senators Andy Kim (D-N.J.), John Kennedy (R-La.), and Angela Alsobrooks (D-Md.). Now, the law increases the examination threshold for well-managed institutions from $3 billion to $6 billion in total assets to qualify for an extended 18-month exam cycle. This bipartisan reform targets regulatory bottlenecks that subject low-risk community banks to unnecessarily frequent exams by federal banking regulators, diverting resources from serving their communities. Additionally, the TRUST Act instead frees up federal banking regulators to focus on riskier or larger institutions and increases efficiency.\n\nU.S. Representatives Tim Moore (R-N.C.-14) and Ritchie Torres (D-N.Y.-15) introduced the companion legislation to the TRUST Act in the House of Representatives.\n\n###", 1, "2026-07-15T07:12:08Z", "2026-07-15T07:13:45Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.budd.senate.gov/2026/07/14/icymi-budd-bills-to-cut-red-tape-are-now-law/"], "units": {}, "query_ms": 0.7437781896442175, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}