Here are the key takeaways for the rental housing industry.
On March 1, President Joe Biden delivered his inaugural State of the Union Address. His remarks included a few areas of interest for the rental housing industry.
First, President Biden highlighted the American Rescue Plan. He noted that “few pieces of legislation have done more in a critical moment in our history to lift us out of crisis.” He continued by thanking Congress for passing the bipartisan Infrastructure Investment and Jobs Act, which the National Apartment Association (NAA) supported. In the coming weeks, Congress is expected to pass its FY 2022 spending, which will unlock federal funding included in the bipartisan infrastructure law, transforming our nation’s roads, bridges, water, broadband and more. This can spur additional growth and development for the rental housing industry.
Unfortunately, the President also urged Congress to pass the Protecting the Right to Organize (PRO) Act. The PRO Act gives workers more power during disputes at work, adds penalties for companies that retaliate against workers who organize and expands workers' collective-bargaining rights. It would also weaken “right-to-work” laws in 27 states, which allow employees to forgo participating in and paying dues to unions. NAA opposes the PRO Act because it would significantly impact labor laws that would cost millions of American jobs, threaten vital supply chains and greatly diminish opportunities for entrepreneurs and small businesses. We will continue to advocate before the Administration and Congress to underscore the impacts these laws would have on our industry.
Finally, President Biden touted an agreement to move the Violence Against Women Act (VAWA) forward. This legislation is a signature law for the President, as he was the legislation’s initial lead sponsor in 1990. Last month, a Senate version of the bill (S.3623) was introduced. NAA worked with a bipartisan group of Senators to remove detrimental language in the House version of the bill, which passed last year and was opposed by NAA and other industry groups. The Senate bill, which is supported by NAA, ensures that the regulatory process balances the needs of victims, their communities and housing providers alike. If passed, VAWA would also continue to fund transitional housing grants for victims of domestic violence and establish a Violence Prevention Office in the U.S. Department of Housing and Urban Development.