Treasury Secretary Bessent speaks to the Washington Examiner

Treasury Secretary Bessent speaks to the Washington Examiner

Treasury Secretary Scott Bessent has indicated that President Donald Trump may declare a national housing emergency in the coming months. This revelation comes as the administration seeks to address rising housing prices and dwindling supply, positioning "affordability" as a key aspect of Republicans' 2026 midterm election platform [1].

During an interview with the Washington Examiner, Bessent highlighted that the administration is exploring various options to tackle the housing crisis, including standardizing zoning codes, lowering closing costs, and potentially granting tariff exemptions for construction materials [2]. The treasury secretary acknowledged that the administration aims to avoid stepping into the business of state, county, and municipal governments while directly addressing the housing emergency.

Bessent expressed optimism about the broader economic outlook, predicting a "big economic pickup in 2026" due to anticipated Federal Reserve rate cuts and Trump's reciprocal tariffs. However, he also acknowledged uncertainty over how businesses will pass costs on to consumers [3].

The potential declaration of a national housing emergency would be the first since the Great Recession, when President Barack Obama was preparing to take over the White House from former President George W. Bush. This move would follow Trump's nine previous national emergency declarations, including a "crime" emergency targeting violent crime in Washington [1].

The Trump administration's focus on housing affordability is part of a broader strategy to position the issue as a central pillar of their 2026 midterm election campaign. The "No Tax on Tips" provision in the recently signed One Big Beautiful Bill Act is a key part of this push, aimed at benefiting small businesses and workers [1].

The interview with Bessent provides insight into the administration's approach to addressing the housing crisis, emphasizing a combination of regulatory changes and economic policies to improve affordability and supply. As the 2026 midterm elections approach, the potential declaration of a national housing emergency is a significant development to watch.

References:
[1] https://www.washingtonexaminer.com/news/white-house/3789052/scott-bessent-big-economic-pickup-2026-national-housing-emergency/
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_S0N3TT03X:0-bessent-says-trump-may-declare-a-national-housing-emergency-this-fall/
[3] https://www.newsmax.com/us/housing-emergency-fed/2025/09/01/id/1224677/