Update: Speaker Johnson To Formally Send Housing Bill Today To President

Research evidence excerpt

Update: Speaker Johnson To Formally Send Housing Bill Today To President

TD Securities (USA) LLC POLICY NOTE

June 29, 2026

■WRG Financial Services Update: Speaker Johnson To Formally Send

■WRG Housing

Housing Bill Today To President

Jaret Seiberg THE TD COWEN INSIGHT

202 868 5313

Update: Speaker Johnson said this weekend that he is presenting the housing package to the

jaret.seiberg@tdsecurities.com

President on Monday. This starts a formal process in which the bill becomes law on July 10

unless President Trump vetoes it or signs it into law sooner. As we view a veto as unlikely, the

presentation of the bill is a positive for manufactured housing and reciprocal deposits.

What Is Happening

House Speaker Mike Johnson said Sunday on FOX News that he would formally send the

housing package to the President on Monday.

Our View

■This will start a 10-day clock in which the bill automatically becomes law unless the

President vetoes it. President Trump could shorten this process by signing the bill into law.

■By our count, that means the bill becomes law on Friday, July 10, unless the President vetoes

it or signs it into law earlier. This process is known as presentation of the bill.

■We do not expect the President to veto the bill given the importance of housing affordability

to voters. Were he to veto it, however, we doubt if Congress would override the veto

even though the package passed by a wide margin. This is because we expect enough

Republicans will change their votes to be on the same side as Trump.

■It is why we continue to expect the housing bill to become law despite Trump last week

canceling the signing ceremony. That package remains positive for manufactured housing,

modular housing and reciprocal deposits.

Background On Housing Package

The housing bill: