nearvideo-Bernie Sanders teases a new $2.5 trillion in housing plan
University of Maryland business professor Peter Morici, as sen Bernie Sanders is the Fund’s plan will be new housing.
Democratic presidential candidate sen. Bernie Sanders says he wants to spend, in order to guarantee a whopping $2.5 trillion over a decade, all Americans – to live, regardless of income – is safe and inexpensive.
In formally unveiling its “housing for All “ plan on Wednesday, the progressive senator from Vermont, making his second straight bid for the White house said there is a shortage of 7.4 million affordable housing for the lowest income tenants. And he stressed that more than 18 million families across the country, the numbers are more than half of their limited income for housing and municipal economy.
SANDERS ‘ STAFF SHAKEUP, IN THE CRUCIAL FIRST-PRIMARY STATE OF NEW HAMPSHIRE
“There is virtually no place in America where a full-time minimum wage worker can afford a decent two-bedroom apartment,” Sanders said in a statement. “At a time, half of our people living paycheck to paycheck, this is unacceptable.”
He stressed that “for too long the Federal government has ignored the extraordinary case of the crisis in our country. This is the end, if I were President. My government is trying to stand up for working families and tenants, not the billionaires who control Wall Street.”
Sanders says he will fully pay for the plan for the establishment of a wealth tax on the top one-tenth of one percent of Americans. Sanders touts that “99.9 percent of Americans will see their taxes go up by a nickel” as a result of his housing plan.
It is the latest in a series of expensive proposals, say Democrats, would be financed by higher taxes for the rich and other measures, however, have stirred debate in the presidential primary. Other such proposals for “Medicare for all”, the “Green New Deal” for free tuition and medical debt relief.
“Sanders’ answer is always a massive spending program that will increase taxes for the middle class and increase the state control over the lives of millions of Americans,” Republican National Committee spokesman Steve Guest said on Wednesday.
A spokesman for President Trump’s re-election campaign, Daniel Bucheli, called it “yet another pie-in-the-sky, big-government, the socialist promise of the Bernie-camp.”
In tease his proposal in a speech on Saturday in Las Vegas, the senator acknowledged that the $2.5 trillion price was “expensive.”
Sen. Elizabeth Warren from Massachusetts, the other top-tier progressive candidate in the record-field in the race for the democratic presidential nomination, has also proposed to increase the taxes for the ultra-rich
Among other things, Sanders’ proposal calls for the construction of almost 10 million households through the National Affordable Housing Trust Fund, social housing, Community Land Trusts, and other housing programs. He would also section full Finance to 8-rental-assistance-program, adopt an upper limit for annual rent increases to no more than 3 per cent, or one and a half times the consumer price Index – which is always higher. And he would establish anti-discrimination, the protection for those support against their landlords.
Sanders says, to eliminate, by his plan, he will rehabilitate and preserve the 7.4 million residential units “the affordable housing gap,” and build a 2-million mixed-income social housing.
The senator also took aim at President Trump, with the argument that “instead of extending federal housing programs, Trump wants to cut them out of $9.6 billion, or 18 percent.”
“Instead of working to significantly reduce the outrageously high prices for housing, Trump has proposed a three-fold increase in some of the poorest seniors and people with disabilities in America to pay for the rent today,” he added.
Sanders also criticized the Republican President for the proposal to eliminate the National Housing Trust fund.