Saying the nation’s home builders are saddled with onerous regulations, GOP presidential candidate Donald Trump promised to cut red tape for NAHB members during an appearance before the association Thursday.
Speaking the National Association of Home Builders midyear meeting in Miami, Trump said regulations sap $2 trillion out of the U.S. economy each year.
"No one other than the energy industry is regulated more than the home building industry," said the 70-year-old real estate mogul turned presidential candidate. "Twenty-five percent of the cost of a home is due to regulation. I think we should get that down to about 2 percent."
Trump said if he’s elected president, he will cut regulations and taxes for all businesses.
We will impose a temporary moratorium order on new agency regulations,” he said. “We'll cancel all illegal and overreaching executive orders signed by President Obama. We will eliminate all regulations that kill jobs. We will remove the bureaucrats that only know how to kill jobs and replace them with experts who know how to create jobs without regulations."
And by overhauling the U.S. tax code, citizens and businesses will save more of their money, he added.
"Everyone's taxes will go down under my plan," said Trump.
The so-called death tax, which hits the heirs of certain companies, is also a target of Trump.
"I know so many families that have been destroyed by the death tax," he said. "They end up losing their business or have to sell their business. Farmers are hit hard, housing companies are hit hard."
Reminding the audience that his father was a successful developer, Trump said he has long loved the construction industry.
"A home builder taught me everything I know," he said. "There is no greater thing you can do. If you can build a home, you can build anything."