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You can’t afford to buy a house. Biden knows that.
(www.vox.com)
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this post was submitted on 01 Apr 2024
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politics
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This is the best summary I could come up with:
Polling indicates that it’s these voters — who are more likely to be renters — that Biden is now struggling with: those who cast ballots for him four years ago but are now leaning toward Donald Trump or considering staying home on Election Day.
In promoting his economic agenda in the summer of 2023, in what would become known as “Bidenomics,” the president emphasized three main planks: empowering workers, reviving domestic manufacturing, and reining in corporate power through competition.
In a newly released report, the president’s staff economists dedicated an entire chapter to increasing the supply of affordable housing and called for more aggressive federal action to lower costs, like pressuring cities to loosen zoning laws.
Biden also proposed new tax credits for first-time homebuyers and for middle-class families selling their starter homes, and a new $20 billion grant program to increase housing production.
“Biden’s backwards solution is to subsidize demand by handing out more government money to buyers, renters, and developers,” argued Judge Glock, a fellow at the Manhattan Institute, a right-leaning think tank.
It will be hard to make a real federal dent on housing without Congress, and it’s unlikely that any major congressional action will happen before the next election, with Republicans loathe to give Biden any more bipartisan victories to campaign on.
The original article contains 1,105 words, the summary contains 216 words. Saved 80%. I'm a bot and I'm open source!
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