President Biden Is Fighting To Lower the Cost of Housing, While Trump Wants To Rip Off the Middle Class To Enrich His Corporate Friends
July 16, 2024
For immediate release - Biden Harris 2024
President Biden Is Fighting To Lower the Cost of Housing, While Trump Wants To Rip Off the Middle Class To Enrich His Corporate Friends
Today, President Biden took action to propose building more affordable housing in communities across the country and called on Congress to cap annual rent increases for tenants of corporate landlords and pass the Biden-Harris Housing Plan to build 2 million homes and lower prices nationwide. The president has already helped more than 8 million Americans keep their homes, and the rate of new housing construction is 17 percent higher under President Biden than under Trump.
For years Trump has ripped off homeowners and renters to benefit corporate cronies and extremists.
As a landlord, Trump was sued by Nixon’s Justice Department for refusing to rent apartments to Black and Puerto Rican tenants.
As president, Trump increased taxes on middle class homeowners, gave hundreds of billions of dollars in handouts to rich real estate developers, and fought to jack up rent for low-income Americans and working families—putting nearly 1 million children at risk of homelessness. That’s just the tip of the iceberg:
Trump proposed cutting the Department of Housing and Urban Development by nearly 20%
Every one of Trump’s budgets proposed eliminating key programs to affordable housing efforts
Every one of Trump’s budgets proposed eliminating the Community Development Block Grant program to fund affordable housing construction and improvements
Every one of Trump’s budgets proposed eliminating the National Housing Trust Fund to assist state and local efforts to develop affordable housing
Trump weakened the ability of Americans to bring discrimination claims under fair housing rules
Trump made it easier for predatory lenders to charge small businesses high interest rates
Trump’s Project 2025 plans will take even more extreme measures to exploit homebuyers and renters.
Trump said he wants to “get rid” of the Fair Housing Act and is promising to revoke fair housing rules that prevent discrimination
Trump and Project 2025 have called for privatizing Fannie Mae And Freddie Mac, which will drive up mortgage costs by about $1,200 for homebuyers
Trump and his allies would increase the cost of purchasing a home for millions of Americans by slashing federal investments
Trump will reverse housing initiatives taken by the Biden administration, likely including a pilot program that is estimated to save thousands of homebuyers an average of $750 through reducing closing costs during refinancing
Trump will repeal rental assistance that helped over 100,000 access affordable rent
Poll after poll shows that Trump’s schemes to gut affordable housing resources for families are wildly unpopular with the American people.
Biden-Harris 2024 Spokesperson Joe Costello released the following statement:
“Trump’s extreme housing agenda will raise costs for working families and devastate the economy. As a landlord, Trump discriminated against Black renters. As president, Trump wanted to triple rent for low-wage workers and seniors. Trump’s Project 2025 agenda will drive up mortgage rates and gut affordable housing. While President Biden is fighting to cut the cost of housing, Trump will sell out the middle class and jack up prices for homeowners and renters to enrich his corporate cronies.”