NEW YORK — The U.S. House of Representatives approved a construction bond for the first time Wednesday, approving $300 million for the nation’s first $1.2 trillion homebuilding program.
The House approved the legislation in a 241-187 vote, with Democratic Rep. Ruben Gallego of Arizona and Republican Rep. David Schweikert of Michigan voting against it.
Rep. Dan Benishek of Arizona, a Democrat, introduced a bill in June to build nearly 1 million homes in the United States by 2023.
It passed the House but never came to the Senate.
Benisheks bill, which the House voted on in July, has the support of many Democrats and Republicans, including Republican presidential candidate Donald Trump.
It would build roughly $900 million in new homes.
House Minority Leader Nancy Pelosi said Wednesday she supported the legislation, which is a “good start.”
Pelosi said in a statement she’s “thrilled” to see the bill being debated in the Senate and said “we are not only building, but growing our economy and creating jobs.”
She added: “The American dream has never been more alive, and we’re seeing this for the very first time in many years.”
The Senate passed its version of the bill on June 28, sending it back to the House for consideration.
House Majority Leader Kevin McCarthy, a California Republican, said he’s “pleased” with the House vote.