Biden unveils plan to cap national rent increases at 5%

President Biden has announced a plan to curb rising rents by penalizing corporate landlords who increase rents by more than 5% annually.

Landlords who do not comply would risk losing access to valuable tax breaks.

This rule targets landlords with more than 50 units, covering over 20 million units, or about half of the rental market.

The proposal requires congressional approval, which is challenging given the Republican-controlled House and Democratic-controlled Senate.

Biden emphasized that high rent and the unaffordability of homeownership are major issues for working families and young Americans.

He called for corporate landlords to limit rent increases or face losing tax benefits, Fox Business has reported.

read more: https://www.foxbusiness.com/politics/biden-unveils-plan-cap-national-rent-increases-5

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Follow Me On Truth Social
https://truthsocial.com/@BC_Begley

Subscribe To The Apocalypse Watch App
https://newapocalypsewatch.com

#Biden #Rent #Democrats