economy
Trump undoes Biden green codes industry
The Departments of Housing and Urban Development and Agriculture on Tuesday repealed a Biden administration policy that would require federally-backed mortgages to adhere to updated energy efficiency codes, requirements that homebuilders claimed add more than $20,000 to the cost of homes.
TL;DR
- HUD and Agriculture repealed a Biden administration policy requiring updated energy efficiency codes for federally-backed mortgages.
- Homebuilders claimed the codes would add over $20,000 to home costs, impacting affordability and production.
- The Biden administration stated the codes would apply to one-sixth of new homes and yield long-term savings for homeowners.
- The Trump administration cited industry figures suggesting costs could increase between $20,000 and $31,000.
- The repeal is intended to facilitate new housing supply and reduce bureaucratic hurdles to homeownership.