Builders share why voting Yes on I-2117 helps the industry
August 26, 2024
At the BIAW Summer Board Meeting, the Washington Affordable Housing Council recommended voting Yes on I-2117.
What does I-2117 do?
I-2117 repeals Washington’s Climate Commitment Act and prohibits the state from enacting similar programs. The CCA’s cap-and-invest program added about 43 cents to a gallon of gas and about 53 cents to diesel in the first year after it went into effect, according to the Washington Policy Center.
According to AAA, Washington’s gas prices average $4.27/gallon — meaning Washington drivers pay over $.75 more than the national average.
Higher home prices
At the same time, the price for a median-priced home has now reached $640,000, requiring an annual household income of $151,500 and a $128,000 down payment.
Studies have shown Washington’s regulatory structure accounts for 23.8% of the final price of a new single-family home.
In a recent poll of BIAW members, nearly 94% said the state’s Climate Commitment Act has affected their business.
- Nearly 86% said it’s increased costs to drive to job sites.
- More than 76% said it’s increased labor costs for subcontractors and employees.
- 57% said it’s increased the costs of materials and supplies.
One survey respondent said increased fuel costs due to the Climate Commitment Act resulted in two employees leaving the company. They could no longer afford the cost to commute from home to work.
More than 60% of those surveyed said the Climate Commitment Act has added more than $10,000 to the cost of their new construction or remodeling projects.
How voting yes on I-2117 helps the industry
Voting yes on I-2117 rolls back these added costs and forces the state to find new ways to address climate change without burdening Washington residents with higher costs.
Learn more about I-2117
- Watch the Seattle Times editorial board with supporters and opponents of I-2117.
- Check the facts on the Climate Commitment Act and I-2117