Democrats propose bill targeting corporate housing tax breaks

"Hedge funds are driving up home prices and rents across America as they gobble up single-family homes. They are a significant factor in killing the dream of homeownership and must be stopped. Democrats are introducing legislation to stop Wall Street from snapping up homes in bulk and jacking up rent for families."

"This bill will take on predatory landlords while making investments to increase housing supply and boost homeownership for Americans. The measure would end major federal tax deductions and other benefits for Wall Street landlords and reinvest those tax savings to build more housing and lower costs."

"Several senators said the bill would help level the playing field for working families competing with institutional investors that make all-cash offers. Owning a home is a key way for Americans to lay down roots, build equity, and establish long-lasting community."

Legislation strengthens federal antitrust enforcement authority to address large-scale corporate acquisitions of housing. Democrats argue hedge funds and institutional investors drive up home prices and rents by purchasing single-family homes in bulk, constraining supply and undermining homeownership. The bill targets predatory landlords by eliminating federal tax deductions and benefits for Wall Street landlords while reinvesting savings into housing supply and homeownership programs. Multiple senators emphasize the measure levels the playing field for working families competing against institutional investors making all-cash offers. Endorsed by housing advocacy organizations, the legislation represents a comprehensive response to the nation's housing affordability crisis.

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