‘Housing for All’: Democrats push for big government response to soaring rents
Harris’s bill, which expands on a measure that Rep. Joseph Crowley (D-N.Y.) has introduced in the House, calls for the federal government to give tax credits to renters who earn less than $100,000 a year and spend more than 30 percent of their income on rent (which includes utilities) — a widely used gauge of housing affordability. (The credit would be refundable, meaning taxpayers can receive payments even if their tax liability is $0, and those in particularly expensive areas could earn up to $125,000 and still receive the credit.) The size of the benefit increases for poorer families and decreases higher up the income distribution.
Kaniela Ing, a Democratic candidate for Congress in Hawaii, is expected to soon propose a “Housing for All” plan that would create 10 million new housing units, a national “Tenants Bill of Rights” prohibiting unfair evictions, and “punitive taxes” on some vacant properties worth more than $2 million.
Ing’s plan contains elements of one published this summer by the People’s Policy Project, a socialist think tank. Hawaii has the most expensive housing in the nation, according to Zillow.
“I think it’s revolutionary, at least more than anything else out there,” said Ing, who has been endorsed by Alexandria Ocasio-Cortez, the upset victor in the Democratic primary for New York’s 14th congressional district. “The stakes are high for our generation, so solutions should be as radical as the problems are.”
The big left turn is coming.
Better hope rent control gets struck down by the Supreme Court.
Subsidizing rent makes people lifetime renters, and they miss out on the wealth built through ownership. This will increase the wealth gap.
It also shows how out of touch democrats are with most of the country. Most of America would find it insane that people making $100k would need tax credits for rent. They’re making a national problem out of something that’s only an issue in heavily blue cities. We already know their policies don’t work to making housing affordable.
Also, weren’t democrats screaming about how would Trump pay for his tax cuts. Now they want tax credits, so even fewer people will pay any income tax?
Will democrats ever propose a solution that doesn’t take money from one group to give it to another group while growing the government? At this point, it’s becoming pathetic.
Democratic Party is the rent control party. Let’s abandon the rent control party immediately. Let the rent control party lose the midterm election then.