What happens in Las Vegas, stays in Las Vegas…unless you’re the President of the United States.
On Tuesday, July 16, President Joe Biden is expected to travel to Las Vegas, Nevada for the 115th NAACP National Convention. During his time in Sin City, the President will unveil his plan to lower the rising cost of rent in the United States. According to a press release from the White House, Biden feels the following actions will help “make renting more affordable for millions” nationwide:
- Calling on Congress to pass legislation giving corporate landlords a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks;
- Repurposing public land sustainably to enable as many as 15,000 additional affordable housing units to be built in Nevada; and
- Rehabilitating distressed housing, building more affordable housing, and revitalizing neighborhoods, including in Las Vegas, Nevada.
The President is also urging Congress to pass the Biden-Harris Housing Plan, a proposal that would “build 2 million homes, and provide $10,000 in mortgage relief to unlock homeownership for millions of Americans.”
“Families deserve housing that’s affordable—it’s part of the American Dream. Rent is too high and buying a home is out of reach for too many working families and young Americans, after decades of failure to build enough homes. I’m determined to turn that around,” the President said.
“Today, I’m sending a clear message to corporate landlords: If you raise rents more than 5% on existing units, you should lose valuable tax breaks. My Administration is also taking action to cut red tape and repurpose public land to build more affordable homes—including thousands of new homes in Nevada—and announcing new grants to build thousands of homes from Las Vegas to Syracuse. And I’m reiterating my call for Congress to pass my plan to build 2 million new homes—to lower housing costs for good, we need to build, build, build.”
President Joe Biden will have the opportunity to formally present his plan to the American people at 11:00 a.m. PDT in Las Vegas, Nevada during the penultimate day of the 2024 NAACP Convention.
