Biden Unveils Plan to Expand Affordable Housing with Tax Credits, New Construction, and Rent Control
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Biden proposed a $400 per month mortgage relief tax credit for 2 years to help with down payments and monthly costs.
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He called on Congress to pass legislation to build and renovate over 2 million homes to help close the housing supply gap.
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Rents have increased nearly 30% nationally since before the pandemic; Biden pushed to bring rents down.
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The administration launched a "strike force" to curb unfair rental increases and practices by corporate landlords.
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Biden stated the strike force will crack down on landlords illegally price fixing and inflating rents.