Biden Proposes Nationwide Rent Control to Cap Annual Increases at 5%

The plan targets corporate landlords and aims to curb rising housing costs, but faces significant opposition and legal hurdles.

The proposal would cap rent increases at 5% for properties with more than 50 units, affecting nearly half of U.S. rentals.
Landlords who exceed the cap could lose federal tax benefits, including depreciation write-offs.
Critics argue the plan could stifle new housing development and worsen existing shortages.
Supporters claim the measure is necessary to protect tenants from excessive rent hikes and housing instability.
The plan is unlikely to pass Congress and may face legal challenges if implemented through federal agencies.