Trump Refuses Housing Bill Signing, Stalling CBDC Ban and Clarity Act

President Donald Trump has refused to sign the bipartisan housing affordability bill, freezing a four-year prohibition on a Federal Reserve digital dollar and putting the Digital Asset Market Clarity Act at risk. The Senate has roughly five weeks before its summer recess. Any standoff over the voting legislation Trump demands could consume the limited floor time needed for the crypto market structure bill.

The housing bill–formally the 21st Century ROAD to Housing Act–carries a provision barring the Fed from issuing a central bank digital currency until at least December 31, 2030. The crypto industry backed the ban because it matched Trump's January 2025 executive order. The bill passed the House 358-32 and the Senate 85-5, margins large enough to survive a veto.

Trump posted on Truth Social that the signing ceremony was "hereby cancelled" until Congress passes the SAVE America Act, which would impose proof-of-citizenship and photo-ID requirements for federal elections. He called the bill a "National Emergency." The SAVE Act has stalled in the Senate; Republican leadership says it lacks the votes.

House Speaker Mike Johnson defended Trump's refusal, telling reporters he is simply using "a little bit more" of the constitutionally allowed 10-day period. Johnson said he expects Trump to sign within that window. One unnamed House Republican texted NBC News that the President's decision was "Crazy crazy crazy."

Under the Constitution, the housing bill can become law without Trump's signature after 10 days if Congress remains in session. Senate Minority Leader Chuck Schumer told reporters that Congress could override a veto outright if needed. The veto-proof margins make a successful override likely. The override process would still consume floor time that the Clarity Act needs.

The Clarity Act's Shrinking Window