EXCLUSIVE — Treasury Secretary Scott Bessent says that President Donald Trump may declare a national housing emergency in the coming months.
Since entering office, Trump has declared nine national emergencies, allowing him to expand his executive powers to address issues such as immigration and trade. He also declared a “crime” emergency in August to tackle violent crime in Washington.
Bessent joined the Washington Examiner for an interview and a breakfast on Labor Day at McLean Family Restaurant — the first of his three “diner” stops across the greater Washington metropolitan area on Monday to highlight the “No Tax on Tips” provision included in the One Big Beautiful Bill Act that Trump signed into law on July 4.
The Trump administration hopes to make “affordability” a critical leg of Republicans’ 2026 midterm election platform, and Bessent told the Washington Examiner that housing will be a core focus of that push in the months to come.
“We may declare a national housing emergency in the fall,” he explained.
Bessent said rate cuts from the Federal Reserve would help alleviate skyrocketing post-COVID-19 housing prices but acknowledged that the administration can do more to cut costs and boost supply for homeowners. The treasury secretary declined to list specific actions the president may take, beyond possibly declaring a national emergency, but he suggested that administration officials are directly studying ways to standardize local building and zoning codes and decrease closing costs. Bessent even suggested that Trump may consider some tariff exemptions for certain construction materials.
“We’re trying to figure out what we can do, and we don’t want to step into the business of states, counties, and municipal governments,” he continued, through bites of his omelette. “I think everything is on the table.”
More broadly, Bessent sounded extremely optimistic about the next year’s economic outlook, even as questions remain about how companies may or may not choose to pass down the cost of Trump’s reciprocal tariffs, implemented last month, to American consumers.
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“I think we’re going to see a big economic pickup in 2026,” the secretary predicted before gesturing to the restaurant’s owner. “This very, very, very nice young lady here, who’s had this restaurant for 32 years, she’s going to get a large tax refund of the ‘No Tax on Tips.’ So 2026 is going to be a good year.”
Bessent’s full interview with the Washington Examiner will run on Tuesday.