Treasury Secretary Scott Bessent told the Washington Examiner that President Trump may declare a national housing emergency this fall to address rising prices and dwindling supply.
The treasury secretary declined to list specific actions the president may take, beyond possibly declaring a national emergency, but he suggested that administration officials are directly studying ways to standardize local building and zoning codes and decrease closing costs. Bessent even suggested that Trump may consider some tariff exemptions for certain construction materials.
Why It Matters: Emergency declarations unlock additional executive powers through the National Emergencies Act. A primer on those powers is available through the Brennan Center.
