President Joe Biden is suggesting that a federal limit on annual rent increases in residential units will ease housing costs. This is what happens when economist Milton Friedman isn’t “running the show”: Policymakers follow ideas that make the problem they say they’re solving infinitely worse.
“While the prior administration gave special tax breaks to corporate landlords, I’m working to lower housing costs for families,” Biden said Tuesday. He urged congressional Republicans to “join Democrats to pass my plan to lower housing costs for Americans,” in which corporate owners would have “a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks.”
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Biden’s rent-control plan will only make America’s housing crisis worse
Kerry Jackson
President Joe Biden is suggesting that a federal limit on annual rent increases in residential units will ease housing costs. This is what happens when economist Milton Friedman isn’t “running the show”: Policymakers follow ideas that make the problem they say they’re solving infinitely worse.
“While the prior administration gave special tax breaks to corporate landlords, I’m working to lower housing costs for families,” Biden said Tuesday. He urged congressional Republicans to “join Democrats to pass my plan to lower housing costs for Americans,” in which corporate owners would have “a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks.”
If he had only looked west, he would have seen the damage caused by rent-control policies in California.
Click to read the full article in Fox News.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.