House and Senate Lawmakers Unveil NAHB-Supported Transformer Bill
At NAHB’s urging, Rep. Richard Hudson (R-N.C.) and Sen. John Barrasso (R-Wyo.) have introduced identical House and Senate bills — Protecting America’s Distribution Transformer Supply Chain Act — that would delay for five years any rulemaking on energy-efficiency standards for distribution transformers.
“At a time when the home building industry is facing a severe shortage of distribution transformers, NAHB commends Rep. Hudson and Sen. Barrasso for introducing this important legislation,” said NAHB Chairman Alicia Huey. “This vital measure will provide needed time to boost output at existing facilities to address the growing supply chain crisis for transformers that has delayed home construction projects across the country and aggravated the nation’s housing affordability crisis.”
This was one of the key issues during the recent NAHB Legislative Conference when more than 700 NAHB members discussed vital matters of concern to the housing industry with their lawmakers on Capitol Hill.
The Department of Energy has proposed to increase the energy conservation standards for the production of distribution transformers and NAHB has been working diligently with House and Senate lawmakers to oppose this plan because it will exacerbate an already acute supply-chain shortage.
NAHB continues to work with both chambers of Congress to seek additional funding aimed solely at boosting production of distribution transformers to meet market demand.
Latest from NAHBNow
A key duty of owners and managers of residential construction firms is to create an environment where everyone is empowered to honestly discuss jobsite safety.
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have proposed targeted revisions to their Community Reinvestment Act (CRA) regulations.
Latest Economic News
The U.S. labor market weakened in July, with nonfarm payrolls down 23,000 and downward revisions cutting another 103,000 jobs from May and June.
Confidence in the market for new multifamily housing weakened year-over-year in the second quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices.
Re-escalation of the conflict in Iran pushed mortgage rates higher in July. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.54% in July, up 5 basis points (bps) over June. Since the conflict in the Middle East began, the 30-year mortgage rate has climbed by almost 50 bps.