President Biden wants to cap rent increases. Here's how New Yorkers are reacting to the plan.
NEW YORK -- President Joe Biden's new plan to cap rents and build housing drew mixed reactions in New York.
The White House unveiled the housing plan Tuesday.
The plan calls for building 200,000 new homes and providing $10,000 in mortgage relief. It would also cap rent increases at 5% for landlords with more than 50 units, and landlords who raise rents more than that would lose tax breaks.
The plan was praised by New York tenants.
"President Biden is right: rent caps ensure families can set roots in their communities and stay for the long term," said Cea Weaver, the director of the Housing Justice for All Coalition.
But the Rent Stabilization Association, a group of 25,000 landlords in the metropolitan area, turned thumbs down.
"Seventy-five years of trying to cap rents in New York City has not made New York City more affordable. It's been a disaster for taxpayers. It hasn't created the new housing," said Frank Ricci, the association's executive vice president.
"It doesn't make an a economic sense to me, personally. There's no incentive to build more housing, no incentive to improve housing. It'd destroy the market," one New Yorker said.
"I think it's excellent. It's for the common man. At this point in time, everybody's struggling," another New Yorker said.
The plan was part of a two-pronged attempt by Democrats to grab voters' attention, in addition to sending members of the Democratic National Committee to Milwaukee for the Republican National Convention.
Sen. Cory Booker joins Democrats at RNC to warn against Project 2025
New Jersey Sen. Cory Booker was one of a number of Democratic Party officials and labor leaders who traveled to the RNC and Milwaukee to warn people about Project 2025, a plan put together by some Republicans to cut Medicare and Medicaid, cut social security and limit abortion.
"This is a stark choice, folks. It's between having health care and not. Between having reproductive rights and not. Between having affordable prescription drugs and not. Between having retirement security and not," Booker said.
New York State Republican Chairman Ed Cox dismissed their concerns.
"President Trump has made it clear from the start of his campaign ... he's not about to change the basic rules about Medicare and social security," Cox said.
The theme of the RNC Tuesday is "making America safe again." It will focus on crime and border security. Trump wants to close the border and deport immigrants.
