BIDEN ANNOUNCES MAJOR NEW ACTION TO LOWER HOUSING COSTS [View all]
BIDEN ANNOUNCES MAJOR NEW ACTION TO LOWER HOUSING COSTS
JASON EASLEY TOP NEWS TUE, JUL 16TH, 2024
https://www.politicususa.com/2024/07/16/biden-housing-action.html
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Today, President Biden is announcing new actions to lower housing costs, including:
• Calling on Congress to pass legislation giving corporate landlords a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks;
• Repurposing public land sustainably to enable as many as 15,000 additional affordable housing units to be built in Nevada; and
• Rehabilitating distressed housing, building more affordable housing, and revitalizing neighborhoods, including in Las Vegas, Nevada.
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The Biden-Harris Administration is using all available tools to lower housing costs, including limiting rent increases on rentals built with federal tax credits; supporting local communities that are building more housing; standing up to price-fixing by corporate landlords setting high rents for tens of millions of apartments; and cutting energy costs by making housing more efficient and climate resilient.
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