Senator and 2020 presidential candidate Bernie Sanders revealed his affordable housing plan while he was in Las Vegas last weekend. The key aspects of his plan are control of national rent and investing in building new homes and public housing. That is a pretty ambitious and pricey program because it will cost a $2.5 trillion.
The program that Sanders presented in Las Vegas is not something that can happen overnight. In fact, the implementation of his plan will last for a whole decade. But will it solve or at least reduce the problem of homelessness and affordable housing?
The Democratic politician said that it was important to control the national rents and prevent their increasing. Sanders pointed out that Nevada was one of the states that had neither adopted nor banned rent control law. The situation is similar in states nationwide.
His plan proposes to limit the rent increase at 3% or the current rate of inflation. This measure will stop the gentrification of poor neighborhoods, and it will prevent greedy landlords and developers from increasing the rent.
Sanders also said that Nevada had the highest percentage of young homeless people in the U.S. One of the reasons is a small number of affordable rental units. His plan suggests $32-billion investments for building new affordable units and another $70 billion to repair and expand public housing.
Senator Sanders is aware that his plan is expensive and ambitious, but he says that the investments will be acquired from increasing taxes for 0.1% of taxpayers. According to him, 99.9% of people will not experience an increase in taxes. Sanders said that he would entirely present this plan in the months to come.