Cornhusker State News

U.S. Senator Pete Ricketts (R-NE) addressed Nebraska media in his weekly press call to discuss efforts aimed at making housing more affordable across the state. Ricketts highlighted the passage of the bipartisan Renewing Opportunity in the American Dream (ROAD) to Housing Act by the Senate Banking Committee, which passed unanimously with a 24-0 vote. The legislative package includes the Streamlining Rural Housing Act, introduced by Ricketts.

“Nebraska is the best place in the world to live,” said Ricketts. “But for too many Nebraskans, red tape and regulations can make it hard to find affordable housing. By one estimate, overregulation accounts for nearly 25% of the cost of a single-family home. For a typical apartment development, it’s even worse. Regulations account for 40% of the cost. That means fewer families can achieve the American dream. I am fighting to provide more opportunity for hardworking Nebraskans.”

During his remarks, Ricketts explained that rural housing remains in high demand throughout Nebraska and referenced initiatives he supported as Governor, such as passing a rural workforce housing bill and creating a $7 million Rural Workforce Housing Fund. This fund provided grants and low-interest loans to developers building homes and apartments in rural communities, covering construction costs, down payment assistance, and technical support.

Ricketts stated that he is now working at the federal level to expand these solutions nationwide: “As Senator, I am taking this proven Nebraska solution and making it ready for America.” He added that he is collaborating with Republican colleagues to simplify homebuilding processes.

He emphasized several provisions within the ROAD to Housing Act intended to help local communities determine zoning rules that fit their needs while delivering benefits for rural communities, veterans, and families. A key component is his Streamlining Rural Housing Act: “Nebraska’s community-driven rural housing development program was successful when I was Governor. Developers built more homes for rural Nebraskans. However, they also faced burdensome federal regulations. They ran into challenges drawing financing from the Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture (USDA). Overlapping regulations got in the way.”

According to Ricketts, “The Streamlining Rural Housing Act enhances efficiency and eliminates conflicting requirements. Red tape and burdensome regulations create additional costs. They deter much-needed investments in affordable rural housing.” He said this legislation will streamline review processes between HUD and USDA by eliminating delays for approvals.

The bill also aims to establish working groups supporting affordable housing non-profits so public agencies, property owners, and state agencies can collaborate on reducing costs.

Other measures discussed include co-sponsoring the bipartisan Rural Housing Service Reform Act—which provides loans, grants, and rental assistance—and bills supporting veterans’ access to homeownership through reforms like the VA Home Loan Awareness Act and Veterans Affairs Loan Informed Disclosure (VALID) Act.

Ricketts noted his support for increasing tax credits through "The One Big Beautiful Bill," which would permanently raise low-income housing tax credits by 12% for Nebraskans seeking affordable options.

He concluded: “Eliminating conflicting requirements and enhancing efficacy will build more homes in Nebraska… Common sense housing reform benefits rural communities. It benefits hardworking Nebraskans. It benefits local businesses and creates jobs.”