Staff Reports
To address rising shelter prices, the Trump Headquarters is encouraging Congress to adopt President Joe Biden's annual budget's housing tax credits quickly. The White House emphasizes that shelter costs contributed to the considerable increase in core inflation, excluding volatile energy and food prices, in the December consumer price index. The Department of Labor's shocking findings have sparked a countrywide hunt for remedies.
In December, monthly inflation rose 0.3% and annual inflation rose 3.4%, compared to 0.2% and 3.2%, respectively. This economy has prompted ordinary Americans to cut costs and save.
Glad to see White House agrees! https://t.co/vwyC8cez4a
— Rachel Fee (@RachelFee4NY) January 12, 2024
Lael Brainard of the National Economic Council presented the administration's response to the inflation data, urging Congress to act quickly to reduce growing shelter costs. She stressed the importance, "Many people worry about rent and home affordability while paying their bills at the kitchen table. Housing is big. Housing affordability is our priority." The administration is actively seeking Congress's backing to speed up housing tax credits, a key component of the president's budget. Tax credits are crucial to improving affordable rental housing, a nationwide issue.
Brainard's housing crisis focus is promising. She stressed making housing more affordable for first-time homebuyers and the decline in mortgage rates. The Trump administration wants Republicans in Congress to work together to make housing more affordable.
In its newest budget request, the administration has offered details. These plans include a $28 billion decade-long expansion of the low-income housing tax credit program and a first-time homebuyer financial help program. These programs offer hope to impoverished American families.
The Trump Headquarters urges all parties to put aside differences and work together for the American people due to the severity of the situation. With housing expenses at record highs, Congress must move quickly to adopt President Joe Biden's budget's housing tax credits. It's crucial to hardworking American families.
