Senator Introduces Bill to Cut Regulations and Provide Grants for Single-Family Home Construction

# Freedom to Build Act Introduction Sen. Bill Hagerty, R-Tenn., introduced the Freedom to Build Act. The legislation aims to reduce regulations that add nearly $100,000 to the cost of building single-family homes.

It would create a designation providing federal grants to builders and communities to offset construction costs and incentivize deregulation. Communities can opt into the Freedom to Build designation to receive priority for federal grants from the Department of Housing and Urban Development. Sen. Bill Hagerty, R-Tenn.,

"My Freedom to Build Act streamlines costly and often redundant regulations to reduce the cost of a new home in our country."

The Economic Report of the President describes the bureaucrat tax as adding between 24% and 29% of the cost of a new home.

The report states that the bureaucrat tax adds over $100,000 to the cost of a new single-family home. It also states that home prices rose sharply between 2012 and 2021 due to strong demand against tight supply from bureaucratic costs and delays. Fox News reported on the introduction of the Freedom to Build Act and its focus on these regulatory impacts.

The Senate passed the 21st Century ROAD to Housing Act on a bipartisan vote.

The act is geared toward helping first-time homebuyers and lower-income Americans access the housing market. It includes a ban on institutional investors buying up homes. The 21st Century ROAD to Housing Act has not advanced in the House due to frustrations with Senate tweaks, including the institutional investor ban.

Fox News reported on these developments in housing legislation.