Senator Blunt Rochester Floor Remarks on Amendment to Lower Housing Costs

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Washington, DC - Senator Lisa Blunt Rochester (D-Del.) spoke on the House Floor today during a debate of Senate Republicans' partisan budget bill. There, she discussed her amendment to combat the President's extreme tariffs that will exacerbate the housing crisis. Below are her remarks as prepared.

Yesterday, when the Budget Resolution came to the floor, I introduced an amendment. It's a simple, straightforward piece of legislation that would protect American consumers by prohibiting tariffs that increase the cost of building a house. Not two days ago, we passed a bipartisan resolution reversing President Trump's unnecessary national emergency on Canadian imports. That's right - our closest ally to the north is now on the receiving end of a senseless trade war. Essential groceries and food products, building supplies, materials that impact our national security - all these things and more cross our northern border each and every day. Not too long ago, I met with Federal Reserve Chair Jerome Powell.

I asked him: Are tariffs a tax?

And he said:

"Somebody's got to pay the tariff," whether that's the exporter, the importer, the retailer, or the consumer.

And who is most likely to feel the pain? American families and small businesses! When it comes to the cost of building materials, homebuyers are going to bear the brunt of the burden. All this in the same week the Trump Administration said it would "shake up" the agency that oversees federal housing loans. I wrote to the Administration on Monday to get clarity on the "shake up" - which feels more like a shake down. Because, you know what it could mean?

Higher mortgages and higher rents. So, in just a few weeks' time, the cost to build a home is going to go up. The cost to own a home is going to go up. The cost to rent a home is going go up. While we already face a housing crisis! ALL thanks to the reckless policies of this administration, with the support of Congressional Republicans.

Picture this: You're a young couple in Wilmington, Delaware. You've been married a few years and have been saving up to buy you're first house. You were smart. You've been investing with the intention of putting 10% down. You had nearly $40k in investments that you were ready to sell to cover your downpayment. And you were almost there. That $400,000 home you've been eyeing has been on the market for a few months. But then this Administration slapped tariffs on half the world and the market dropped. There goes your $40k. There goes your downpayment and your dream of homeownership.

Or think of a couple in Dover. They've been living in their home for ten years and are looking to sell. They saved up $20,000 to redo their kitchen. They wanted to update the house before putting it on the market. A new refrigerator, a new dishwasher, updated cabinets, flooring-the works. But with the tariffs, what would have once covered the whole project is now just a drop in the bucket! A house is made of many imported materials, and these tariffs increase the amount consumers will have to spend each step of the way.

Let's look at a new build from the ground up, and how President Trump just made it all more expensive. According to the New York Times, the United States became the biggest importer of cement in 2023. Cement is a key component for laying the foundation of a home, and these tariffs could raise the price of cement alone by 18 percent.

So now you've spent the money to build the foundation, it's time to move on to framing. Well, the cost of lumber is expected to go up at least 4 percent. You'll need exterior windows and doors too-those materials could go up 11 percent.

Want a roof? Another 21 percent bump. Siding? Add another 7 percent. Want working water and electricity? Plumbing, electrical, and mechanical parts could cost 8 percent more. Insulation and drywall are expected to cost 20 percent more. Add in another 17 percent bump for countertops and cabinets and another 11 percent increase for appliances, too. The dollars add up.

It's a compounding effect-an avalanche of increased costs at a moment where investment accounts, savings, and retirement funds are starting to drain. For so many across our nation, these tariffs mean more than an increase in price. It can cost them their dreams, their financial future, the literal roof over their head in a place they call home. Now, I'm pretty sure I remember President Trump running on an agenda to lower costs.

But what we are seeing here are broken promises and a shakedown of working families to line the pockets of his billionaire friends. When I first ran for Congress back in 2016, I was driven to serve because I saw a dad in the supermarket with three kids put back grapes because they were $9.

Not candy, not soda…grapes. Many times, over the years, I think about that dad and his kids. Today, I think about that family. And the reality is, this Administration's policies are only going to make it harder for them to make ends meet.

I'm sorely disappointed that my Republican colleagues refuse to stand up for their states, despite knowing how harmful these tariffs will be. The rest of the world knows how harmful these tariffs will be, which is why the stock market saw its worst collapse since the beginning of the COVID-19 pandemic.

Let's be clear: these 19th century trade policies do not prepare us for a 21st century economy. Instead of a national, well thought-out and comprehensive strategy, this administration is approaching trade like they are approaching government efficiency - with a chainsaw, woodchipper, and hatchet.

It gives new meaning to the term "using all the tools in the toolbox." It's just that they're the wrong tools.

The uncertainly being created will in fact, stop investments, hurt innovation, and lead to layoffs, less hiring, and stunted growth. Let's be clear: This budget does not reflect the needs of our constituents or the times. I urge my colleagues to vote no on this budget resolution.

And I yield back.

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Senator Lisa Blunt Rochester represents Delaware in the United States Senate where she serves on the Committees on Banking, Housing, and Urban Affairs; Commerce, Science, and Transportation; Environment and Public Works; and Health, Education, Labor, and Pensions.