Biden housing plan seeks to curb rent increases by penalizing landlords

President to unveil rent control plan for larger landlords that would restrict increases to 5%, or risk losing tax breaks

President Joe Biden wants to curb rent increases by penalizing landlords who hike rents beyond 5% each year, but he needs the help of Congress to put the plan into action.

The Biden administration will announce the idea in Nevada on Tuesday along with a host of other housing-related policies, including an influx of funds to add more housing in Nevada and elsewhere and a plan to use public federal lands for affordable housing near Las Vegas.