Biden unveils plan to cap rent hikes ...Middle East

By Samantha Delouya, CNN (CNN) — President Joe Biden revealed a series of proposals aimed at lowering housing costs on Tuesday as inflation and elevated home prices are shaping up to be decisive issues for voters this year. The plan, which is subject to congressional approval, has two parts. The first proposal calls for withdrawing tax credits from landlords who raise rent by more than 5% per year, beginning this year and for the next two years. The plan would apply only to larger landlords who have more than 50 units in their portfolio, though that counts for more than 20 million rental units across the country, according to the White House. The policy would include an exception for

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Last updated : 16 July 2024 clock 12:12 PM

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Biden unveils plan to cap rent hikes ...Middle East

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