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At Extreme Investor Network, we are passionate about providing unique and valuable information on personal finance that you can’t find anywhere else. Today, we are digging into the topic of Vice President Kamala Harris’ record on housing issues and how it impacts you.
Harris’ Impact on Housing
Did you know that as attorney general for California, Harris drafted and helped pass the California Homeowner Bill of Rights? This set of laws protects homeowners from unfair practices and became law on Jan. 1, 2013. Harris has a strong track record of fighting for homeowners’ rights.
In addition, Harris secured an $18 billion agreement to benefit homeowners who lost their homes due to improper foreclosure or fraud in 2012. This commitment to justice and fairness in the housing market sets Harris apart as a champion for those facing housing challenges.
Furthermore, Harris introduced the Rent Relief Act in 2018, which offers tax credits to renters who earn below $100,000 and spend more than 30% of their income on rent and utilities. This bill aims to provide financial relief to struggling renters and address the growing issue of housing affordability.
Harris continues to make strides in housing policy, most recently announcing an $85 million grant to increase building activity and lower housing costs for families through the Pathways to Removing Obstacles to Housing (PRO Housing) project. These efforts align with the Biden administration’s focus on increasing affordable housing supply and reducing costs for buyers and renters.
Future Housing Policies
Experts believe that Harris will continue to prioritize affordable housing and zoning policies in her campaign. The LIFT the Middle Class Act, a bill she originally proposed in her 2020 presidential campaign, could provide a refundable tax credit of up to $3,000 per person for qualifying middle- and working-class Americans.
Some experts suggest that the LIFT Act may be a better alternative to Biden’s proposed 5% rent cap increase, as it targets the negative effects of rent inflation without causing disruptions in the housing market. Harris’ commitment to finding practical solutions to housing challenges demonstrates her dedication to supporting middle-class families.
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