Trump Won’t Sign Housing Bill That Bans CBDC; Midnight Deadline

President Trump wrote on Truth Social that he will not sign the bipartisan 21st Century ROAD to Housing Act and called his refusal a “protest” over the Senate’s failure to pass the SAVE America Act. A White House spokesperson declined to confirm whether the president will issue a formal veto before the midnight deadline.

The bill, which passed both chambers of Congress, contains a provision blocking the Federal Reserve from issuing a central bank digital currency, or CBDC, through the end of 2030. Under the Constitution, a bill that the president does not sign becomes law after 10 days if Congress remains in session. That automatic enactment period ends at midnight Friday.

If the president returns the bill with a veto before the deadline, Congress would need two-thirds majorities in both the House and Senate to override it. The legislation previously cleared the Senate by 85-5 and the House by 358-32, margins that would meet the two-thirds requirement.

The ROAD to Housing Act aims to increase U.S. housing construction by reducing certain regulatory barriers and limiting large institutional investors from buying up single-family residential properties. Lawmakers added the CBDC prohibition to the package earlier this year.

Privacy and cryptocurrency advocates praised the CBDC language, arguing a government-issued digital dollar could enable federal tracking of financial transactions. The Federal Reserve has been studying digital-dollar technology but has said it would not issue a CBDC without explicit authorization from Congress.

If no veto is filed by the deadline, the CBDC restriction would take effect and remain in place until 2031, and the other provisions of the ROAD to Housing Act would move toward implementation under the bill’s timelines and regulatory processes. If the president issues a veto, the bill would return to Capitol Hill for a possible override vote.