Vice President Kamala Harris has been a vocal advocate for affordable housing throughout her career. From her time as California’s attorney general to her tenure as a senator, Harris has championed various policies aimed at protecting homeowners and renters from unfair practices and increasing access to affordable housing options. One of her notable achievements includes drafting and passing the California Homeowner Bill of Rights, which was designed to safeguard homeowners from improper foreclosure or fraud practices. Additionally, Harris introduced the Rent Relief Act in 2018, a bill that offers tax credits to renters earning below $100,000 and spending over 30% of their income on rent and utilities.
Moreover, Harris has been actively involved in the Biden administration’s housing policy-making efforts. Recently, she announced an $85 million grant under the Pathways to Removing Obstacles for Housing (PRO Housing) project, aimed at increasing building activity and lowering housing and rental costs for families in the U.S. This initiative aligns with the administration’s goal of addressing the rising homelessness rates and burdensome costs associated with buying or renting homes in the country. In fact, a report by the Harvard University Joint Center for Housing Studies revealed that a record 653,100 people experienced homelessness in 2023, highlighting the urgent need for affordable housing solutions.
The LIFT the Middle Class Act
During her 2020 Presidential campaign, Vice President Kamala Harris proposed the LIFT the Middle Class Act, a bill aimed at providing a refundable tax credit of up to $3,000 per person or $6,000 per married couple for qualifying middle- and working-class Americans. Some experts have pointed out that the LIFT Act might be more beneficial for renters compared to the 5% rent cap increase proposed by President Biden. The concern with the rent cap is that it may lead to unintended consequences such as landlords withdrawing their properties from the rental market, thereby reducing the housing supply. On the other hand, the tax credit under the LIFT Act offers a more targeted approach to addressing rent inflation without distorting the housing market.
While the LIFT Act has faced criticism in the past, it represents a step in the right direction towards providing financial relief for middle-class Americans struggling with housing costs. As Vice President Harris continues to shape affordable housing policies, it will be essential to consider the trade-offs and implications of each proposal to ensure that they effectively address the challenges faced by renters and homeowners in the current housing market.
Looking Ahead
As Vice President Kamala Harris emerges as a prominent figure in housing policy discussions, there is growing anticipation for how her initiatives will shape the future of affordable housing in the United States. With a strong track record of advocating for housing affordability and a commitment to addressing the needs of vulnerable populations, Harris has the potential to enact meaningful change in the housing sector. By harnessing her influence and leveraging innovative solutions, Vice President Harris can pave the way for a more equitable and sustainable housing landscape for all Americans.