Horsford Applauds Biden-Harris Administration Actions on Housing Affordability and Access That Will Have Immediate Impact on Southern Nevada

NORTH LAS VEGAS – Today, Congressman Steven Horsford applauded the announcement from the White House on taking action to address the housing affordability crisis here in Nevada and across the country. In the 117th Congress, Horsford first introduced the HOME Act, now H.R. 702 in the 118th Congress, to deal with the housing affordability crisis that was growing due to corporate landlords buying up single family homes and other properties, pricing out first-time home buyers including veterans and single-mothers, while also artificially driving up rental prices. Now, the White House has announced major new actions to lower housing costs.
 
“Housing is a fundamental issue that affects all aspects of our lives, from economic stability to health and education. Today's announcement by President Biden is a significant step forward in addressing the housing crisis in Southern Nevada and across the country, but we must continue to push for more comprehensive solutions to ensure everyone has a fair shot at owning a home and living safely and securely,” said Congressman Horsford. “This proposed policy to cap rent increases at 5% targets large landlords with more than 50 units and encourages rent stabilization by making it less attractive for corporate landlords to raise rents because they would lose valuable tax benefits if they did. My HOME Act would give the President the flexibility to define a housing emergency and protect renters from the egregious price increases we have seen in the last few years.”
 
Today’s announcement takes action to make renting more affordable for millions of Americans and takes immediate steps to address housing access and affordability in Nevada. Today, President Biden announced he would be: 

• Calling on Congress to pass legislation giving corporate landlords a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks;
• Repurposing public land sustainably to enable as many as 15,000 additional affordable housing units to be built in Nevada; and
• Rehabilitating distressed housing, building more affordable housing, and revitalizing neighborhoods, including in Las Vegas, Nevada.

Congressman Horsford added, “The administration's plan includes using federal land to build thousands of affordable homes, focusing on Nevada. The largest-ever sale under SNPLMA will help Clark County develop nearly 150 homes, and similar efforts in Henderson will provide nearly 300 affordable units. The Bureau of Land Management (BLM) is considering 562.5 acres for affordable housing in Las Vegas, potentially supporting up to 15,000 more units. I’ll continue working with local authorities and stakeholders to identify and advocate for more land for housing and ensure it is suitable for development. These are crucial steps forward, but we need quicker and more decisive action to free up public land and streamline the development process to meet our housing needs. The administration needs to provide the resources necessary to ensure an accelerated transfer and development of these lands.”
 
Additionally, the U.S. Department of Housing and Urban Development announced it has awarded $50 million to restore and expand Marble Manor in the Historic Westside neighborhood of Las Vegas. This investment will restore 235 affordable units and build 400 more. It will also fund infrastructure improvements, a co-op market, preschool, parks, a health and wellness center, and support business expansion. Congressman Horsford has led efforts to help bring an additional $212 million in public and private resources for these projects, showing the power of partnerships to revitalize our communities.