Secretary of the Treasury Scott Bessent suggested on Monday that President Donald Trump’s administration could declare a “national housing emergency” in the fall to help lower the cost of housing for Americans.
During a Monday interview with The Washington Examiner at McLean Family Restaurant outside Washington, D.C., Bessent explained that the Trump administration is planning to make “affordability” a central part of the Republican Party’s platform for the 2026 midterm elections. The Treasury secretary told reporters, “We may declare a national housing emergency in the fall.”
While Bessent did not explain the exact details regarding what a “national housing emergency” could look like under the Trump administration, the Treasury secretary suggested that Trump’s administration may push for the standardization of zoning laws, implement tariff exemptions for housing materials, and consider ways to decrease closing costs for home buyers.
“We’re trying to figure out what we can do, and we don’t want to step into the business of states, counties, and municipal governments,” Bessent told The Washington Examiner. “I think everything is on the table.”
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Bessent’s comments regarding the possibility of the Trump administration declaring a “national housing emergency” come after the president has repeatedly urged Federal Reserve Chair Jerome Powell to decrease interest rates in the United States.
In a Truth Social post on August 19, Trump said, “Could somebody please inform Jerome ‘Too Late’ Powell that he is hurting the Housing Industry, very badly? People can’t get a Mortgage because of him. There is no Inflation, and every sign is pointing to a major Rate Cut. ‘Too Late’ is a disaster!”
In another interview on Monday, Bessent told Reuters that the current housing situation in the United States is an “all hands on deck” issue. The Treasury secretary indicated that he is expecting home sales and real estate transactions to increase after interest rates are eventually lowered.
Bessent also told Reuters that the Trump administration is considering ways to increase house construction through standardization and simplified permitting.
