Treasury Secretary Scott Bessent said President Trump may declare a national emergency to tackle soaring housing costs for Americans. “We may declare a national housing emergency in the fall,” Bessent told the Washington Examiner. According to the outlet, Bessent said housing “affordability” will be a key focus for the Trump administration heading into the 2026 midterm election. Bessent says Trump may declare a national “housing emergency” within the next months in an attempt to fix the inflated US real estate market. Follow: @AFpost pic.twitter.com/gJjtC3CGur — AF Post (@AFpost) September 1, 2025 More from the Washington Examiner: 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. “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.” “On this Labor Day, it was a pleasure to visit restaurants in Virginia and D.C. to thank the hardworking men and women serving our communities,” Bessent said Monday. “Thanks to President Trump’s One Big Beautiful Bill, they’ll see No Tax on Tips and No Tax on Overtime, so they can keep more of their hard-earned money!” he added. On this Labor Day, it was a pleasure to visit restaurants in Virginia and D.C. to thank the hardworking men and women serving our communities. Thanks to President Trump’s One Big Beautiful Bill, they’ll see No Tax on Tips and No Tax on Overtime, so they can keep more of their… — Treasury Secretary Scott Bessent (@SecScottBessent) September 1, 2025 The Washington Examiner will publish its full interview with Bessent on Tuesday. BREAKING: Treasury Secretary SCOTT BESSENT reveals President Trump may declare a "national housing emergency" in the coming months. This comes as the Trump Administration is REMOVING illegal aliens from Section 8 housing. pic.twitter.com/KKRuYrTi6l — Eric Daugherty (@EricLDaugh) September 1, 2025 Bessent also spoke with Reuters: The housing market has been hardest hit by the U.S. central bank’s tight monetary policy stance and high housing costs are a top concern for many Americans. The Treasury secretary told Reuters rents were now dropping, which was important for Americans who do not own their homes. He said he was expecting an increase in real estate transactions and home sales once interest rates began falling, which could encourage people who were locked into low mortgages to put their existing homes on the market. Bessent said the Trump administration was also exploring ways to simplify permitting and encourage standardization to boost construction, which would boost housing supply and help to bring high costs down. Affordability would be a big focus for the administration, Bessent said, noting Trump’s push to drive down prescription prices.