NAHB Submits Extensive Deregulatory Recommendations to OMB
On May 12, NAHB submitted a comprehensive framework of deregulatory recommendations to the Office of Management and Budget (OMB) that covers several federal agencies that encompass a host of regulations affecting the residential construction industry.
The submission was made pursuant to an official OMB Request for Information that asked the private sector to help identify regulations that are unnecessary, unlawful, unduly burdensome, or unsound.
The initiative is part of President Trump’s focus on streamlining the federal government and eliminating unnecessary regulations. Trump has made deregulation one of his priorities and issued several executive orders directing federal agencies to scale back their regulatory reach by performing regulatory look backs; identifying 10 regulations to rescind for each new one proposed; and ensuring that the total incremental cost of all new regulations, including repealed regulations, is significantly less than zero; among others.
NAHB’s submission to OMB emphasized how regulations drive up housing costs and cited an NAHB study showing that, on average, regulations imposed by government at all levels account for nearly 25% of the price of building a single-family home and more than 40% of the cost of a typical multifamily development.
There are countless federal rules, regulations and guidance documents that impact where and how new residential construction is allowed to occur and how new homes and apartments are financed.
“Many fail to accurately account for compliance costs, overstate benefits, and/or impose burdensome paperwork requirements that do little to advance the goals of their authorizing statutes,” NAHB said in its submission to OMB. “Still others were created by agency whims or ideologies and have little or no statutory basis. For these reasons, NAHB is pleased that this administration is taking a holistic approach to deregulation and is hopeful that this effort will deliver results.”
View the detailed list of deregulatory recommendations encompassing several federal agencies that NAHB submitted to OMB.