ARLINGTON, Va. | July 16, 2024 - Statement from the National Apartment Association (NAA) in response to President Biden's federal rent control plan:

"Today's announcement to cap rent increases at 5% or lose an important federal tax deduction is another attempt at failed rent control policy that will harm communities and renters across the U.S. Federal rent control will only drive rental homes out of the market, decreasing housing options while increasing costs and placing upward pressure on inflation. It's time to stop issuing policies that harm the people who are trying to house Americans."

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About NAA
The National Apartment Association (NAA) serves as the leading voice and preeminent resource through advocacy, education, and collaboration on behalf of the rental housing industry. As a federation of 141 state, local and global affiliates, NAA encompasses nearly 97,000 members representing more than 12 million apartment homes globally. NAA believes that rental housing is a valuable partner in every community that emphasizes integrity, accountability, collaboration, community responsibility, inclusivity, and innovation. To learn more, visit www.naahq.org. NAA thanks its Strategic Partners AppFolio, The Home Depot Pro, Lowe's Pro Supply and Yardi.