Treasury Secretary Scott Bessent revealed that President Trump may declare a national emergency to address rising housing costs for Americans. Bessent told the Washington Examiner that housing affordability will be a key focus for the Trump administration ahead of the 2026 midterm elections. He emphasized that Federal Reserve rate cuts could ease post-pandemic housing price surges but acknowledged the need for additional measures to reduce costs and increase supply for homeowners. While declining to specify actions beyond the potential emergency declaration, Bessent hinted at exploring ways to standardize local building and zoning codes and lower closing costs. He also suggested Trump might consider 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,” Bessent said, adding that “everything is on the table.” The treasury secretary expressed optimism about the 2026 economic outlook despite uncertainties over how companies might pass on Trump’s recent tariffs to consumers. He predicted a significant economic rebound in 2026, citing plans to implement tax refunds for workers under the “No Tax on Tips” policy. Bessent also highlighted efforts to simplify permitting processes and boost construction to increase housing supply and reduce costs. Affordability remains a central priority, with ties to Trump’s broader push to lower prescription prices.