U.S. Vice President Kamala Harris speaks at an event with U.S. President Joe Biden (not pictured) in Prince George’s County, Maryland, the United States, on August 15, 2024.
Elisabeth Franz | Reuters
Vice President Harris’ campaign will unveil a number of housing policy proposals on Thursday, including her support for efforts to lower rental costs and help financially distressed renters, according to details obtained by NBC News from a campaign official. support.
Under the proposal, Harris would introduce plans to stop data companies from driving up rental rates, as well as plans aimed at preventing Wall Street investors from buying and reselling homes in bulk at higher prices.
As part of the rollout, Harris will call on Congress to pass Preventing Algorithms from Promoting Rental Housing Cartels ActSens. Ron Wyden, D-Ore., and Peter Welch, D-Vt., have introduced a bill they say would prevent corporate landlords from using private equity-backed pricing tools Dramatically raise rents in communities across the country.
Harris will also call on Congress to pass Stop Predatory Investing ActIt was introduced by Sen. Sherrod Brown, D-Ohio, and several other Democratic senators. The bill aims to prevent communities from being exploited by Wall Street investors and distant landlords. The bill would limit these practices by eliminating a major tax benefit for major investors who purchase large quantities of single-family rental housing.
Harris would express full support for both measures, according to the proposals obtained by NBC News.
Harris also plans to express support for the Biden administration’s efforts to “expand rental assistance to Americans, including veterans, increase housing supply for the homeless, enforce fair housing laws and ensure that corporate landlords cannot use taxpayer funds.” Money comes to unfairly cheat tenants.
Harris’ sudden transition from President Joe Biden’s running mate to presidential candidate allowed her to quickly clarify her policy platform and create a space to differentiate herself from some of the president’s current positions.
The economy was the first policy area Harris ventured into. She is scheduled to give a speech on Friday afternoon outlining her views on the economy.
