Resolutions Introduced in House and Senate to Overturn Biden WOTUS Rule
Congressional Republicans in the House and Senate today issued resolutions that would overturn the Biden administration’s new “waters of the United States” (WOTUS) rule that will go into effect on March 20, 2023.
The resolutions were introduced under the Congressional Review Act, which allows Congress to use expedited procedures to rescind federal regulations.
The resolution was introduced in the House by Transportation and Infrastructure Committee Chairman Sam Graves (R-Mo.) and has garnered 151 co-sponsors.
The Senate resolution was introduced by Sen. Shelley Moore Capito (R-W.Va.), the ranking member of the Senate Environment and Public Works Committee. All 49 Republican members of the Senate signed onto the resolution.
No Democrat signed onto either the House or Senate resolution.
The resolutions require a simple majority for approval in both chambers, but President Biden is expected to veto the WOTUS resolution if it comes to his desk.
Latest from NAHBNow
Builder confidence in the market for newly built single-family homes fell three points to 32 in September, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today.
The need for a skilled labor force remains a top priority in the industry. This presents a unique opportunity for women across all levels of home building to make a significant impact on this niche sector.
Latest Economic News
Inflation in August remained sticky as renewed tensions with Iran continued pushing up oil prices, keeping pressure on the Fed to consider a rate hike at its upcoming meeting.
Existing home sales fell for the third consecutive month as record-high home prices and elevated mortgage rates weighed on buyers. Mortgage rates resumed an upward trend after the July ceasefire ended.
Residential building material prices, excluding energy, rose 0.2% in August and were up 5.1% from a year ago. Energy prices rose sharply in August, as prices for energy inputs to residential construction rose 6.6% over the month.