Trump says he won't sign housing bill, which would become law automatically - CNBC
President Trump has announced he will not sign a bipartisan housing bill, allowing it to become law automatically without his signature. He is withholding his support as a protest against the Senate's failure to pass the SAVE America Act.
Why it matters
This highlights a rare legislative standoff where a president uses non-action to protest unrelated policy, impacting housing market regulations.
President Donald Trump said Friday he will not sign a housing bill that Congress passed in June with overwhelming bipartisan support, setting the stage for it to automatically become law at 12:01 a.m. ET Saturday.
Trump said he was withholding his signature from the housing bill in protest over the Senate's failure to pass the controversial election security legislation known as the SAVE America Act.
The president did not say he would veto the housing bill, which seeks to lower costs for homebuyers and rein in institutional investors.
And the Constitution says that if the president does not veto a bill within 10 days of receiving it, excepting Sundays, the bill "shall be a Law," as if he had signed it.
The White House, when asked if Trump would veto the bill, referred CNBC to the president's Truth Social post saying he would not sign it.
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