Harris vs. Trump: Where the 2024 Presidential Candidates Stand on Key Housing Issues
As the 2024 presidential election approaches, the similarities and differences between former President Trump and Vice President Harris on key issues related to housing, urban development and economic policy represent two distinct outcomes that could impact providers in a multitude of ways.
This analysis aims to shed light on the stances of the two candidates. By understanding these perspectives, members can better anticipate potential policy shifts and their implications for our sector in the coming years.
Please read and review where 2024 Presidential candidates stand on policy issues that impact rental housing.
Kamala Harris
While campaigning for president in July, Harris publicly voiced support for President Biden’s proposal for a 5% cap on annual rent increases, stating that “we will take on corporate landlords and cap unfair rent increases.”
As California’s attorney general, Harris secured an $18 billion agreement as part of a settlement regarding bank servicing and foreclosure misconduct during the foreclosure crisis.
Harris drafted and helped pass the California Homeowner Bill of Rights in 2013, which issued numerous reforms in the mortgage process and how foreclosures are handled.
In the Senate, Harris sponsored the Rent Relief Act in 2018, a bill that would create a refundable tax credit for renters who earn below $100,000 annually and spend more than 30% of their income on rent and utilities.
Harris sponsored the Housing is Infrastructure Act, which would provide $70 billion to address the public housing capital backlog, and other funds to support public housing.
Donald Trump
The Republican Party’s 2024 platform proposed opening portions of federal lands for new home construction, tax incentives to support first-time buyers, and rescinding “unnecessary” regulations.
Trump wrote an op-ed with former HUD Secretary Ben Carson in 2020, criticizing efforts to eliminate local single-family zoning regulations.
His administration terminated the Obama-era Affirmatively Furthering Fair Housing regulation.
His administration also raised the threshold for providing disparate impact liability, rolling back the 2013 Disparate Impact Standard rule.
Created Opportunity Zones as a way for businesses to invest in underserved neighborhoods through the 2017 Tax Cuts and Jobs Act.
Trump’s Treasury Department released a plan to end the conservatorship of Fannie Mae and Freddie Mac.
Issued and extended a federal eviction moratorium during the COVID-19
*Credit NMHC click link for a deeper dive > NMHC
