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House Republicans Reject "Bundle Deal" of Housing Bill and Cryptocurrency Legislation
Deep Tide TechFlow News, March 25 — According to Politico, House Republicans rejected a potential bicameral exchange proposal—namely, including the community bank deregulation bill into the pending cryptocurrency market structure legislation in exchange for the House accepting the Senate-passed Affordable Housing Act.
Rep. Bill Huizenga (R-Michigan), Vice Chairman of the House Financial Services Committee, expressed skepticism, questioning the logic of “trading our quality content for their bad content.” Rep. Mike Flood (R-Nebraska), Chairman of the House Housing Subcommittee, also stated that there are still many issues to review in the housing bill.
Regarding the background, Senate banking Republicans discussed the exchange proposal last week in a closed-door meeting, led by Senate Banking Committee Housing Subcommittee Chair Katie Britt (R-Alabama). The housing bill passed by the House in February included a deregulation clause for community banks, but this clause was removed in the Senate version. Senate Banking Committee Chair Tim Scott and Minority Member Elizabeth Warren insisted that the House accept the Senate version of the bill.