Nebraska Panhandle News

U.S. Senator Pete Ricketts (R-NE) addressed Nebraska media during his weekly press call, focusing on efforts to make housing more affordable in the state. Ricketts highlighted the recent unanimous passage of the bipartisan Renewing Opportunity in the American Dream (ROAD) to Housing Act by the Senate Banking Committee, which he described as a significant step for Nebraskans.

Ricketts noted that regulatory costs are a major barrier to affordable housing, stating, “Nebraska is the best place in the world to live. 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.”

He reflected on his time as Governor, mentioning initiatives such as the $7 million Rural Workforce Housing Fund, which provided grants and low-interest loans to developers building homes in rural communities. Ricketts said these programs were effective in supporting construction costs and technical assistance.

“As Senator, I am taking this proven Nebraska solution and making it ready for America,” Ricketts said. He emphasized that the ROAD to Housing Act would give local communities more control over zoning rules and includes measures aimed at helping rural areas, veterans, and families.

Within this legislative package is Ricketts’ own Streamlining Rural Housing Act. According to Ricketts: “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.”

He explained that his bill aims to reduce inefficiencies: “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. This bill cuts through the red tape.”

The legislation seeks to streamline review processes between HUD and USDA, with goals of speeding up approvals and making development more efficient for builders and non-profits.

Other components co-sponsored by Ricketts include bills targeting rural housing service reform with loans, grants, rental assistance; support for veterans through improved access to VA home loan resources; and initiatives encouraging collaboration between HUD and local governments on zoning policies.

Ricketts also pointed out tax credit increases through another bill: “The One Big Beautiful Bill permanently raises the low-income housing tax credit… The bill gives Nebraskans an extra 12% in tax credits to build more affordable housing.”

Summing up his position on these reforms, Ricketts stated: “Common sense housing reform benefits rural communities. It benefits hardworking Nebraskans. It benefits local businesses and creates jobs. It builds and sustains the Good Life.”