Good things are happening! An oil company just got hit with a history-making fine, greedy landlords are forced to make some tough choices, recycling your tech is getting easier all the time, and broadband access is on the rise.
No Cap, Rent Cap
President Biden announced on Tuesday a proposal that would rein in greedy landlords, and affect up to half of all rental units in the country.
The proposal would prevent landlords with more than 50 rental units who raise the rent by more than 5 percent per year from taking advantage of a significant tax break many of them rely on. This plan, which would be in effect until 2027, would cover over 20 million rental units nationwide — although it first needs to be approved by Congress. Newly constructed or renovated units would be exempt from the proposal, as a way to incentivize the creation of new housing.
Last year, the cost of housing increased by 5.2 percent, significantly outpacing the current rate of inflation. In a May poll, inflation and housing were the first and second most important issues to voters, with the share mentioning housing costs as their top concern reaching a new high of 14 percent.
