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As rising inflation diminishes the spending power of the trillion-dollar bipartisan infrastructure law enacted seven months ago, the Biden administration continues to work on a potential reconciliation deal with congressional Democrats that could combat price pressures and revive parts of the president’s agenda.

This week, Congress passed the first major federal gun safety legislation in three decades and sent the bipartisan compromise to President Biden for his expected signature. The Senate passed the Bipartisan Safer Communities Act last night with a filibuster-proof 65-33 vote, which included the support of 15 Republicans and all Democrats. The House passed the measure 324-193 today.

The Roundtable’s 2022 Annual Meeting in Washington, DC this week focused on key policy issues affecting the commercial real estate industry—including inflation and interest rates; prospects for a scaled-back Build Back Better (BBB) Act; proposed climate risk disclosure rules; and a new industry Equity, Diversity, and Inclusion initiative.

The Real Estate Roundtable submitted comments today to the U.S. Securities and Exchange Commission (SEC) on a proposed rule that would require all registered companies to disclose material financial risks related to climate change.

President Joe Biden affirmed this week that the Federal Reserve will take the lead role in his administration’s efforts to tame inflation. The Fed’s “Beige Book” of regional economic surveys also confirmed the economy is facing headwinds of high inflation, supply chain issues and labor market difficulties.

Congress returns to Washington next week as talks on a scaled-back reconciliation package between Senate Majority Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WV) have reportedly gained momentum, with a focus on climate and energy provisions, deficit reduction, and lowering prescription drug costs.

The “Healthy Workplaces Coalition” launched this week with the backing of The Real Estate Roundtable to support federal policies that promote health and safety in offices and other work environments.

The International WELL Building Institute (IWBI) and ISSA–The Worldwide Cleaning Industry Association announced today the launch of the Healthy Workplaces Coalition, a new coalition of more than 40 national organizations, industry leaders and trade associations collaborating to support and advance federal policy aimed at helping businesses and organizations better afford and implement health and safety improvements in workplaces and across the built environment — to benefit the health and well-being of employees, customers and the public.

The White House this week announced a plan to create hundreds of thousands of affordable housing units in the next three years, with the goal of closing the nation’s housing supply shortfall in five years. The Housing Supply Action Plan includes zoning incentives and new government financing to address an estimated shortfall of 1.5 million homes nationwide.

Commercial real estate executives remain optimistic about overall Q2 market conditions despite growing economic headwinds and geopolitical uncertainty, according to The Real Estate Roundtable’s Q2 2022 Economic Sentiment Index.

President Joe Biden this week committed that his administration’s top economic priority is battling inflation. Biden’s efforts to combat rising prices include proposals that would increase taxes on large corporations and the wealthiest Americans – and possibly eliminate Trump-era tariffs on foreign imports.

The Real Estate Roundtable and Nareit raised concerns to the Securities and Exchange Commission (SEC) about their proposed rules related to cybersecurity risk management, strategy, governance, and incident disclosure.