House Passes NAHB-Supported Regulatory Reform Bill
On a bipartisan vote of 208-196, the House has passed NAHB-supported legislation that would increase small business input in the regulatory process and ensure agencies are fully accounting for the impact of regulations on small businesses.
The Prove It Act of 2024 (H.R. 7198) would ensure agencies thoughtfully consider the actual cost of regulations on small businesses by requiring a more thorough analysis, including indirect costs associated with a proposed rule.
In July, NAHB member Steve Martinez testified before the House Small Business Committee and said “increased regulations including building code requirements, among other things, add significant costs to homes and further harm housing affordability.” In fact, on average, nearly 25% of the cost of a single-family home is attributable to government regulation, and regulations account for more than 40% of the cost of a typical apartment development.
Prior to the House vote, NAHB sent a letter to members of Congress urging passage of the bill and told lawmakers “ensuring that regulations consider the true cost of compliance on small businesses in the home building industry would go a long way in helping to overcome the nation’s housing supply crisis.”
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