WASHINGTON - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for April 2025:

New Home Sales Sales of new single-family houses in April 2025 were at a seasonally-adjusted annual rate of 743,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 10.9 percent (±13.5 percent)* above the March 2025 rate of 670,000, and is 3.3 percent (±14.7 percent)* above the April 2024 rate of 719,000.

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WASHINGTON, DC – Total single-family home sales are expected to close 2025 at 4.92 million units, with existing home sales accounting for 4.24 million of those units, according to the May 2025 Economic and Housing Outlook from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. Revisions to the home sales forecast were driven in part by the ESR Group's lower expectations for mortgage rates, which it now forecasts to end 2025 and 2026 at 6.1% and 5.8%, respectively. The latest outlook also projects real gross domestic product growing at 0.7% in 2025 and 2.0% in 2026 on a Q4/Q4 basis.

Visit the Economic and Strategic Research site at https://fanniemae.com to read the full May 2025 Economic and Housing Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast.   more...

Executive Summary

This paper builds upon the April 2025 Council of Economic Advisers (CEA) analysis which found that extending the 2017 Tax Cuts and Jobs Act (TCJA) would avert a $4 trillion tax hike and continue the legacy of President Trump’s first term when Americans enjoyed historic prosperity in the form of record high income gains, record low poverty, and low inflation. This paper studies President Trump’s broader proposed tax cuts, including permanent extension of the TCJA (the topic of the April paper) and related business tax provisions along with additional temporary tax cuts proposed by President Trump as well as enhancements for households and businesses included in the “One Big Beautiful Bill” approved by the House Ways and Means Committee on May 14, 2025. Specifically, this report studies the following provisions relative to expiration of the TCJA after 2025:

• Permanent extension of the expiring TCJA business tax cuts;
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WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner, U.S. Department of Health and Human Services (HHS) Secretary Robert F. Kennedy Jr., U.S. Department of Agriculture (Ag) Secretary Brooke Rollins, and U.S. Centers for Medicare & Medicaid Services (CMS) Administrator Mehmet Oz penned an opinion piece in The New York Times discussing the impact of work requirements in creating stronger economies, protecting truly needy populations, and restoring purpose and dignity in the lives of millions of Americans.

“Establishing universal work requirements for able-bodied adults across the welfare programs we manage will prioritize the vulnerable, empower able-bodied individuals, help rebuild thriving communities and protect the taxpayers,” wrote Secretary Turner, Secretary Kennedy, Secretary Rollins, and Administrator Oz.

“America’s welfare programs were created with a noble purpose: to help those who needed them most — our seniors, individuals with disabilities, pregnant women and low-income families with children.

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WASHINGTON — In alignment with President Trump’s agenda to eliminate burdensome regulations and stimulate economic growth, the Department of the Interior announced today the proposed rescission of a rule governing solar and wind energy development on public lands. The proposed rescission of the Bureau of Land Management’s clean energy regulation marks a significant policy shift, aimed at removing what officials describe as federal overreach and opening the door to expanded land use and energy independence.

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(Montgomery, Ala.) – Alabama Attorney General Steve Marshall has joined a coalition of 24 states challenging Vermont’s Climate Superfund Act. Similar to a law recently enacted by New York, the statute levies massive retroactive penalties on America’s coal, oil, and natural gas suppliers. It seeks to punish a small set of domestic energy producers for contributing to global greenhouse gas emissions from 1995 to 2024. The Act has no cap, so the fines levied on decades of past energy production could be in the billions. Vermont targets producers regardless of their compliance with federal environmental standards and regardless of how much Vermont and its citizens have benefited from affordable and reliable fuel.

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