Really?
SECTION 2: Build an Opportunity Economy to Help Americans
Get Ahead and Build Wealth
Help Americans Buy a Home and Afford Rent
Unlocking 1.2 million new affordable rental homes through historic incentives for the private sector. By passing a historic expansion of the LIHTC program, Vice President Harris will unlock the full potential of America’s building sector to provide an affordable rental home to every American who needs one.
Creating a new tax credit to rehabilitate affordable housing for homeowners who want to stay in their communities. Vice President Harris would fill this gap by creating a new Neighborhood Homes Tax Credit, which would support the new construction or rehabilitation of over 400,000 owner-occupied homes in lower income communities. As with the LIHTC program, each state would receive an allocation of Neighborhood Homes Tax Credits that would then be allocated to specific projects, calculated based on the amount of credit needed to make a construction or a preservation project in a particular community financially viable. The credit would only be available for single-family affordable homes that will be occupied by the owner, with the goal of supporting individuals or families that wish to set down roots in a community—not supporting private equity homebuyers that simply seek to turn a profit.
Building up supply through the first-ever tax incentive for building affordable homes for first-time homebuyers. Vice President Harris is proposing the first-ever tax cut specifically targeted at encouraging homebuild ers to build affordable homes for first-time homebuyers. This would provide significant tax relief for homebuilders who build homes sold to working families and meaning fully change the economics of building homes that are within reach for younger families. This would complement the Neighborhood Homes Tax Credit, which encourages investment in homes that would otherwise be too costly or difficult to develop or rehabilitate.
Launching a $40 Billion Local Innovation Fund for Housing Expansion. Vice President Harris’s plan would provide state and local governments, and private developers and homebuilders, funds to invest in innovative strategies to expand the housing supply. This could include financing the construction of new housing paired with efforts to reduce regulatory burden and cut red tape, employing innovative building and construction techniques to lower costs, and using self-sustaining financing mechanisms to scale new housing construction. This will be a results-driven innovation fund with one core requirement: state and local governments must show that they will deliver results in building rental properties and homes that are affordable.
LOWERING COSTS BY TAKING ON ABUSIVE CORPORATE LANDLORDS
Taking on algorithmic price fixing, which distort markets, and ending unfair practices that help large corporate landlords dramatically raise rents. Vice President Harris is calling on Congress to pass the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, to crack down on companies that contribute to surging rent prices by making these unfair practices illegal under antitrust laws.
Stopping Wall Street investors from buying up and marking up homes in bulk. Vice President Harris is calling on Congress to pass the Stop Predatory Investing Act, to curtail these practices by removing key tax benefits for major investors that acquire large numbers of single-family rental homes.
This is the plan you guys rejected, and now that Trump comes up with part of the same idea, we see people like you making claims that really don't stand up to the scrutiny of fact.
Finally, it was Trump's Ag Secretary who made the idiotic comments. Trump ain't about the working class. The only working class he apparently connected with was the white working class, and that connection really had nothing to do with their economic condition.