U.S. Vice President Kamala Harris speaks at an event with U.S. President Joe Biden (not pictured) in Prince George’s County, Maryland, U.S., August 15, 2024.
Elizabeth Frantz | Reuters
Vice President Harris’ campaign on Thursday will roll out some of her housing policy proposals, including her support for efforts aimed at lowering the cost of rent and helping renters who are struggling financially, according to details obtained by NBC News from a campaign official.
Harris will propose plans to stop data firms from driving up lease rates and plans aimed at stopping Wall Street investors from buying up and reselling homes in bulk at a higher price, according to the proposal.
As part of the rollout, Harris will call on Congress to pass the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, a bill introduced by Sens. Ron Wyden, D-Oregon, and Peter Welch, D-Vt., that they said would prevent corporate landlords from using private equity-backed price-setting tools to raise rents dramatically in communities across the country.
Harris will also call on Congress to pass the Stop Predatory Investing Act, a bill introduced by Sen. Sherrod Brown, D-Ohio, and several other Democratic senators. The bill is designed to stop communities from being taken advantage of by Wall Street investors and distant landlords. The bill would curtail those practices by removing key tax benefits for major investors who acquire large numbers of single-family rental homes.
Harris will offer her full-throated support for both measures, according to the proposal obtained by NBC News.
Harris also plans to express support for the ongoing efforts by the Biden administration to “expand rental assistance for Americans including for veterans, boost housing supply for those without homes, enforce fair housing laws, and make sure corporate landlords can’t use taxpayer dollars to unfairly rip off renters.”
Harris abruptly went from President Joe Biden’s running mate to presidential nominee, leaving her to quickly articulate a policy platform of her own and create a space to differentiate herself from some of the president’s current positions.
The economy is the first policy arena that Harris is wading into. She is scheduled to deliver a speech Friday afternoon about her views on the economy.
