Congressman Flood: New Biden Policy Worsens “Housing Crisis”

LINCOLN, NEBRASKA – Today, U.S. Congressman Mike Flood issued a statement following the U.S. Department of Housing and Urban Development (HUD) policy change that effectively institutes rent control caps in housing developments utilizing federal housing credits.

“America is in the midst of a housing crisis, and President Biden is proposing to make it even worse. Rent control-style policies have long failed to help expand housing options. The key to decreasing housing costs and increasing housing supply for Americans is to build more housing units. Making Low-Income Housing Tax Credits more difficult for developers to use is entirely counterproductive to that goal. President Biden is making a cynical trade with this policy change: He is sacrificing long-term affordable housing development for cheap headlines in his bid to get four more years.”

More information about the policy change can be found here.