SE Nebraska News

Today, U.S. Congressman Mike Flood expressed his concerns regarding the recent policy change by the U.S. Department of Housing and Urban Development (HUD) that introduces rent control caps in housing developments utilizing federal housing credits.

In his statement, Congressman Flood criticized the move, stating, "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." Flood emphasized that the key to addressing the housing crisis lies in building more housing units rather than implementing rent control measures.

Flood further argued that making it more challenging for developers to use Low-Income Housing Tax Credits, as outlined in the new policy, is counterproductive to the goal of decreasing housing costs and increasing housing supply for Americans. He accused President Biden of prioritizing short-term gains over long-term affordable housing solutions, saying, "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."

The policy change, aimed at regulating rent in housing developments supported by federal housing credits, has sparked a debate on the most effective strategies to combat the ongoing housing crisis in the United States.

For more details on the HUD policy change, interested parties can access the information through the provided link.