Post-election perspectives
Donald Trump has once again been elected as president of the United States. With well over the 270 electoral votes needed to win, Trump also garnered nearly 72 million votes compared to Kamala Harris’ roughly 66 million. With the election officially called, the LBM industry is turning its attention toward policy and forecasting what the next four years may entail.
How, exactly, the new administration’s policies will affect the worlds of U.S. lumber, hardware and building supply is anyone’s guess. Some of the relevant issues include tariffs, green energy incentives, housing affordability, inflation, immigration and the overall regulatory environment, to name a few.
Several D.C.-based associations that deal in lawmaking and regulatory affairs have issued statements regarding the election, sharing perspectives and expectations on what they’d like to see moving forward. Jonathan Paine, president and CEO of the National Lumber and Building Material Dealers Association, expressed hope regarding the Trump administration’s willingness to tackle red tape and help lower costs:
“The National Lumber & Building Material Dealers Association congratulates president-elect Donald Trump as the 47th president. The American people have spoken, and the Republicans have retaken the White House, Senate and quite possibly retained the House with dozens of races yet to be called. NLBMDA looks forward to working with the Trump Administration and the entire 119th Congress to enact policies that address the nation’s housing affordability crisis, increases housing supply, reduces burdensome regulatory practices that cripple small businesses and increase housing costs, and drives business friendly policy that supports economic growth in the United States.”
Meanwhile, the Lumbermen’s Association of Texas added:
“The recent election put housing affordability at the forefront of national discourse. We are leveraging this post-election momentum to advance our key priorities. On the federal front, we are optimistic about collaborating with the incoming Trump-Vance administration through our partnership with the NLBMDA. Together, we aim to champion our federal priorities and drive meaningful progress for our industry.”
Carl Harris, chairman of the National Association of Home Builders (NAHB), issued the following statement on Tuesday’s elections:
“The National Association of Home Builders congratulates president-elect Donald Trump on his election as the 47th president of the United States and all the candidates who were elected to the 119th Congress. Throughout the campaign, voters consistently pointed to the lack of housing availability and affordability as a key issue in their voting decisions. Now is the time to take action to address the nation’s housing shortage and let builders build. NAHB looks forward to working with the incoming Trump administration and leaders in Congress from both parties to enact a pro-housing legislative and regulatory agenda that increases the nation’s housing supply and eases the nation’s affordability woes.”
Associated Builders and Contractors, a trade group representing 23,000 members, also voiced heavy optimism for the days ahead. It released a statement congratulating Trump on his victory.
“This is an exciting day for our industry,” said ABC President and CEO Michael Bellaman. “ABC is optimistic about the future of America’s construction industry and the opportunities to advance policies that protect free enterprise, reduce regulatory burdens and expand workforce development. With leaders and lawmakers committed to promoting economic growth and supporting the principles of fair and open competition, we are confident that the construction industry will thrive and all workers will be given the opportunity to build America with fewer obstacles.”
It adds:
“ABC looks forward to working with the Trump administration and Congress to advance policies that solve the issues that the construction industry faces, including the skilled labor shortage of more than half a million, widespread regulatory burdens and inflation and tax challenges,” said Bellaman. “We also welcome the opportunity to work with a president who is willing to welcome all of the U.S. construction industry to rebuild America.”
Trump is slated to be sworn into office on Jan. 20.
