Amid rising housing unaffordability, Congress needs to remove a the “huge amount of red tape” that inhibits building new homes and refurbishing existing housing stock, Sen. Dave McCormick (R-Pa.) said today at ABA’s Washington Summit. The Senate Banking Committee member said he has co-sponsored several bills related to housing affordability, including the bipartisan Road to Housing Act that passed the Senate Banking Committee with a unanimous vote.
Housing joins permitting reform and export controls as three of McCormick’s priorities for promoting growth. “If you want to unlock capital into our economy, permitting reform is one of the keys,” he said.
As a former deputy national security adviser and Treasury undersecretary for international affairs, McCormick also addressed the conflict in Iran. “In pure military terms, I think it’s been a great success,” he said, while noting that the related effects on world oil markets mean “it’s going to be bumpy for the foreseeable future.”
