New legislation that would eliminate tariffs on many building materials is working its way through Congress.
Introduced by California Rep. Nanette Díaz Barragán, the Housing Tariff Exclusion Act (H.R. 10416) is aimed at lowering housing costs by establishing a tariff exemption process for key building materials. It was referred to the House Committee on Ways and Means earlier this month.
“This bill would help relieve tariff-driven cost pressures on building materials, provide businesses with greater certainty and support broader efforts to improve housing affordability,” said Bill Owens, chairman of the National Association of Home Builders, in a published interview.
According to press reports, the act includes establishing a government process for American businesses to request tariff exclusions for home construction goods. Other elements of the bill include requiring fast-track exemptions for commonly used home building products within 15 days of application; creating a review process for other home building products when tariffs would increase construction costs; and allowing businesses to file for reimbursements for tariffs paid before any exclusion is granted. The bill would cover all tariffs except anti-dumping, countervailing and safeguard tariffs. A similar bill is pending in the Senate. It was introduced in February by Senators Jacky Rosen (D-Nev.) and Chris Coons (D-Del.).
