Biden will announce the plan in Nevada, a state that has seen soaring housing costs and one that is critical to Democrat Biden's chances in the November 5 election.US President Joe Biden has called on Congress to pass legislation that would compel corporate owners of rental housing units to cap annual rent increases at 5 percent or lose some tax benefits.
Biden, a Democrat, is travelling in Nevada, a political swing state that he hopes to win in the Nov. 5 election against Republican Donald Trump. "While the prior administration gave special tax breaks to corporate landlords, I’m working to lower housing costs for families. Republicans in Congress should join Democrats to pass my plan to lower housing costs for Americans who need relief now."