As Vice President Kamala Harris emerges as the Democratic nominee for president, her stance on affordable housing remains a crucial aspect of her policies. Throughout her career, Harris has been a vocal advocate for affordable housing, pushing for legislation and initiatives to protect homeowners and renters alike.
As the former attorney general of California, Harris played a pivotal role in drafting and passing the California Homeowner Bill of Rights. This legislation, enacted on January 1, 2013, aimed to safeguard homeowners from unfair practices, particularly in the wake of the housing crisis. Additionally, Harris secured an $18 billion agreement as part of a national multistate settlement to assist homeowners affected by improper foreclosure and fraud in 2012.
During her tenure as a senator, Harris introduced the Rent Relief Act in 2018, a bill designed to provide tax credits to renters earning below $100,000 who spend over 30% of their income on rent and utilities. She later submitted a revised version of the bill in 2019, which proposed monthly tax credit payments to eligible households, with a cap set at 100% of small area fair market rents.
In a bid to bolster affordable housing initiatives, Harris announced the recipients of an $85 million grant under the Pathways to Removing Obstacles for Housing (PRO Housing) project. This innovative initiative, spearheaded by the U.S. Department of Housing and Urban Development, seeks to enhance building activity and reduce housing and rental costs for families across the United States. Furthermore, Harris allocated $5.5 billion through HUD to promote affordable housing, stimulate economic growth, foster wealth creation, and combat homelessness in communities nationwide.
Against the backdrop of escalating homelessness rates and escalating housing costs, Harris’s policies are poised to address these pressing issues facing American families. A report by the Harvard University Joint Center for Housing Studies revealed a record 653,100 people experienced homelessness in 2023, underscoring the urgent need for comprehensive housing reforms.
In addition to her current initiatives, Harris has garnered attention for her proposed LIFT the Middle Class Act, which offers a refundable tax credit of up to $3,000 per individual or $6,000 per married couple filing jointly for middle- and working-class Americans. This legislation has the potential to provide much-needed relief for renters, offering an alternative to President Biden’s 5% rent cap proposal.
Experts have voiced concerns regarding the efficacy of the rent cap proposed by Biden, citing potential negative repercussions such as landlords exiting the rental market. In contrast, the tax credit outlined in Harris’s LIFT Act targets rent inflation without creating distortions in the housing market. While the LIFT Act may not be a perfect solution, experts agree that it represents a step in the right direction towards addressing the affordability crisis.
Vice President Kamala Harris has demonstrated a strong commitment to advancing affordable housing policies throughout her political career. From her advocacy for homeowners’ rights to her innovative initiatives aimed at alleviating housing burdens, Harris has positioned herself as a champion for housing affordability in America. As she continues on her journey towards the presidency, her unwavering dedication to this critical issue is likely to shape her future policy agenda and resonate with millions of Americans grappling with the challenges of homeownership and rental affordability.