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Trump’s 2018 Budget Could Cost Commercial Property Owners Billions By Defunding Energy Star

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson -- Marriott International
Mike Gill -- The State of Maryland
Barry Glassman -- Glassman Wealth Services
ENERGY STAR

In his proposal for the 2018 budget, President Donald Trump proposed to cut the Environmental Protection Agency’s budget by 31%, in addition to de-funding Energy Star.

Roughly half of the entire U.S. commercial real estate market uses Energy Star and its online tools to track water and energy usage, and the program helps businesses save billions every year, Real Estate Round Table association reports. Owners often strive to earn the Energy Star building label to distinguish their properties and make them more attractive to tenants and investors.

The president also has proposed to cut the Department of Housing and Urban Development budget by $6.2B, or more than 13%, potentially eliminating several community development programs. The Congressional Budget Office said less than 25% of households eligible for federal rental assistance currently receive it, and experts said that figure is likely to shrink as funding decreases.