Harris to endorse protections for renters and removal of key tax benefits for Wall St. investors buying homes
Vice President Harris’ campaign on Thursday will roll out some of her housing policy proposals including that she supports efforts aimed at lowering the cost of rent and supporting renters struggling financially, according to details obtained by NBC News from a campaign official.
WASHINGTON — Vice President Harris’ campaign on Thursday will roll out some of her housing policy proposals, including her support for efforts aimed at lowering the cost of rent and helping renters who are struggling financially, according to details obtained by NBC News from a campaign official.
Harris will propose plans to stop data firms from driving up lease rates and plans aimed at stopping Wall Street investors from buying up and reselling homes in bulk at a higher price, according to the proposal.
As part of the rollout, Harris will call on Congress to pass the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, a bill introduced by Sens. Ron Wyden, D-Ore., and Peter Welch, D-Vt., that they said would prevent corporate landlords from using private equity-backed price-setting tools to raise rents dramatically in communities across the country.
Harris will also call on Congress to pass the Stop Predatory Investing Act, a bill introduced by Sen. Sherrod Brown, D-Ohio, and several other Democratic senators. The bill is designed to stop communities from being taken advantage of by Wall Street investors and distant landlords. The bill would curtail those practices by removing key tax benefits for major investors who acquire large numbers of single-family rental homes.
Harris will offer her full-throated support for both measures, according to the proposal obtained by NBC News.
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