President Donald Trump signed an executive order Tuesday, June 25, which will increase the availability of affordable housing and allow more Americans the opportunity to purchase a home by eliminating government regulations that add significant costs to home purchase.

“I’d like to take a few moments to describe what we’re doing on numerous fronts, but we’re going to take a major step in our historic regulatory reduction campaign. Today, we begin a bold new initiative to bring down the cost of housing for American families. So important. In a few moments, I will sign an executive order launching the White House Council on Eliminating Regulatory Barriers to Affordable Housing.” said President Trump.

Through consultation with Americans in multiple areas of the business community during his campaign and after being elected, President Trump stated early in his presidency that the business community had said that its greatest barriers were not taxes, but the enormous government regulations that have built up in the United States over decades and indeed centuries, resulting in an enormous burden on the free flow of business and commerce as well as increased costs for Americans across the board.

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In response to this information, President Trump set up a Regulatory Reform Task Force at the start of his presidency on Feb. 24, 2017 to eliminate the red tape of government regulations. It was required that every government agency had to eliminate two existing regulations any time a new regulation was created.

In 2018 the Office of Information and Regulatory Affairs reported that for every new regulation created 12 existing regulations had actually been cut. This has been a significant factor in the improvement of the American economy.

President Trump explained how much cost has been added to the purchase of a home due to the government regulations, which are now being eliminated.

President Donald J. Trump signs an executive order on establishing a White House Council on Eliminating Regulatory Barriers to Affordable Housing, on June 25, 2019, in the Oval Office of the White House. (Shealah Craighead/Official White House Photo)

“Nationwide, it’s estimated that the regulations account for more than 25 percent of the cost of a new home. Think of that. So, regulation and unnecessary regulation is 25 percent of the cost of a new home. As a result, the supply of affordable housing cannot keep up with the demand. Today, over 37 million American households have to spend more than 30 percent of their income on housing.” said the president.

Ben Carson, the secretary of Housing and Urban Development is heading these efforts. He shared the general goal that was set out by the president.

“The president has given us a mission to break down barriers and to clear the path for the millions of Americans to pursue their American Dream.” said Carson.

The secretary also explained how the president’s experience prior to politics has contributed to his extensive understanding of this issue.

“President Trump’s decades of experience as a world-renowned builder and developer gives this administration’s leadership a unique set of insights when confronting the challenges of developing more housing,” said Carson.

Carson went on to highlight the Americans who will benefit from the president’s executive order.

“Today’s announcement recognizes the need for federal policies to serve Americans of all income levels, including working-class Americans—like teachers, and nurses, and auto-mechanics, construction workers, policemen, firemen—whose struggles are sometimes forgotten.”

Pastor Darrell Scott who has known President Trump since 2011 was with the president during his campaign and has worked with the president on major issues such as criminal justice reform. The pastor spoke of how this order would tie into and support the president’s Opportunity Zone program, which has been helping low-income urban and rural communities through encouraging long-term investments in those communities.

“Mr. President, during the 2016 campaign, you stated that you would implement national policy to revitalize the urban communities of this great country and, well, all the communities; urban and rural. And I think this is just a part, this dovetails on the Opportunity Zones and the things that are being done in those designated areas. And this makes it, makes the revitalization process that much more obtainable. So we thank you for it,” said the pastor.

Sen. Tim Scott (R-S.C.) commented on the effects of the Opportunity Zones in the urban and rural areas.

“I think it’s important for us to remember that, in Opportunity Zones, the average person is living in a place where the poverty rate is at 31 percent. Nationally, our poverty rate is at 12.5 percent. Because of your legislation that you signed, sir, we’ve seen an 8 percent increase in wages within the zones. We’ve seen a 20 percent increase in property values in the zones.” said the senator.

Carson highlighted the focus and importance of this agenda.

“And we talked so much about the income gap, the wealth gap in this country. A lot of it has to do with homeownership. And that’s why this is so important. But it has to be done the right way. … And it’s really about recognizing that our people are our most important resource and we need to develop it. And the best place to develop those resources is a solid home environment.” said the secretary.

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