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
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.