New Environmental Review Process Will Boost Infrastructure Projects
The Trump administration today proposed regulatory reforms to the National Environmental Policy Act that will boost infrastructure projects that are needed to support residential land development projects.
“The plan to reform the National Environmental Policy Act (NEPA) is the most recent example of the Trump administration’s ongoing efforts to reduce harmful regulations that hurt small businesses and impede economic growth,” said NAHB Chairman Greg Ugalde. “Updating NEPA will streamline the federal permitting process and allow badly needed transportation and infrastructure projects to move forward. In turn, this will build strong communities and support a thriving housing market.”
NEPA was intended to provide an important environmental check on major federal actions. However, it has often been misused to improperly delay or prohibit vital infrastructure projects or to thwart implementation of needed reforms to federal environmental regulations.
NAHB CEO Jerry Howard represented NAHB at the White House event announcing the proposed overhaul on how federal agencies will implement NEPA. NAHB believes the administration deserves credit for its actions to remove federal regulatory barriers across all federal agencies that impact the larger U.S. economy, including regulations that affect housing.
“We welcome any NEPA reforms that streamline the regulatory process and reduce unnecessary costs and delays,” said Howard. “At the same time, we urge President Trump and the administration to continue their efforts to highlight and eliminate regulatory barriers to affordable housing at all levels of government.”
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Latest Economic News
The percentage of new apartment units that were absorbed within three months after completion was down five percentage points in the first quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).
New single-family home size had been falling since 2015 in response to declining affordability conditions. An exception occurred in 2021, when new home size increased as interest rates reached historic lows.
The latest report shows the Federal Reserve’s preferred inflation gauge remains sticky in July, complicating the Fed’s path to its long-term 2% target. Meanwhile, consumer spending remains resilient but is showing signs of slowing, with real consumer spending unchanged in July. Households are pulling back on spending amid persistent inflation.