In a statement released Tuesday, Trump emphasized that the duo would lead efforts to dismantle bureaucracy, cut down on excessive regulations, and significantly reduce wasteful spending across federal agencies.

Trump, fresh from his victory over Kamala Harris in the 2024 election, called their appointment a key move for his administration’s agenda to reform government operations, partnering with the White House and the Office of Management and Budget to bring a streamlined, entrepreneurial approach to public service.

The statement, which Musk shared on his X social media platform, heralded the new department as potentially the “Manhattan Project” of modern governance, targeting systemic reform that Republican leaders have long envisioned. “Elon and Vivek are tasked with slashing red tape and empowering our economy,” Trump said.

They’ll work to ensure that every dollar of our $6.5 trillion federal budget benefits the American people rather than propping up inefficient bureaucratic structures.”

The initiative aims to culminate by July 4, 2026, marking the 250th anniversary of American independence with a leaner, more efficient federal government. Musk, who has been vocal in support of Trump, contributed $75 million to pro-Trump efforts during the election.

Other key appointments include Lee Zeldin as EPA Administrator, Mike Waltz as National Security Advisor, Susie Wiles as Chief of Staff, Tom Homan as Border Czar, Elise Stefanik as Ambassador to the UN, and Stephen Miller as Deputy Chief of Staff for Policy.

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“I think housing is just going to continue to be one of those top issues that voters are concerned about,” said Brian Connolly, an assistant professor at the University of Michigan’s Ross School of Business. “

The policies

Considering that concern, the campaigns for the White House have detailed plans to make housing more affordable.

The Harris campaign has proposed extending the low-income housing credit and providing $25,000 in down payment in assistance for first-time buyers. In addition, Harris wants to build three million new houses with tax incentives for building middle-income housing.

“She would like to continue the Biden administration’s efforts to go after some of the Algorithmic approaches to setting rents that are used by multifamily owners around the country, and perhaps that would be in the form of antitrust action,” Connolly added.

Trump supports tax incentives and support for first time buyers. He also backs increased spending on housing for homeless veterans and says his plans to restrict immigration and curb inflation will bring home prices down.

“He’s also talked about, exercising more control over the Federal Reserve,” Connolly said. The president, would have more involvement in setting interest rates.”

Both candidates support easing restrictive zoning laws and building houses on federal land. “It’s not super clear how they would do that, just because a lot of regulation of the housing market happens at the local level,” Connolly said. “Just because the federal government wants to cut regulation doesn’t necessarily mean that it’s going to be able to do that because all that’s happening at the local level.

Solutions

Connolly emphasized his view that any robust policy agenda to bring down affordable housing would require building more supply. “If we’re not adding new housing supply into the market, then just inducing more demand means that those housing prices that are out there today are just going to continue to get bid up,” he said.

“Any of those demand side subsidies are going to need to be coupled with increases in housing supply.”

Those concerns were echoed by Yarrow Brown, the executive director of Housing North, a group that works to find housing solutions in northwest lower Michigan. “We are in what I would call a housing crisis in Northwest Michigan,” she said. “We’ve had a low housing stock since the market crashed in 2008.”

Brown said that there isn’t enough housing to go around, and wages aren’t keeping up with housing prices. Moreover, there is a labor shortage for home builders.

She recommended a few policy solutions, one of them was streamlining the regulatory and zoning process.

“We need to cultivate more labor force to build the housing in our region, but we also need places for people to live. Any way we can streamline the approval process in our region and help get projects through to the finish line quicker is needed for sure.”

She was in favor of down payment assistance. “Any federal assistance that can help lower the cost and get people into homeownership would be huge,” Brown said.

Another federal policy agenda that would help, Brown said, would be allocation of federal vouchers for low-income housing.

The state currently has 85,000 people on its Section 8 waitlist. “If there were housing units and there were those vouchers available, we could get people housed,” Brown said. “We simply just don’t have enough units, and we don’t have enough vouchers allocated to Michigan to be able to meet the demand.”

The post As prices rise, Trump and Harris plan to change housing policy appeared first on Housing TV Africa.

As the 2024 presidential election heats up, housing affordability has become a central issue.

 

Both Democratic nominee Kamala Harris and Republican contender Donald Trump have promised to tackle the housing crisis, with Harris proposing an ambitious plan to build 3 million new homes over her first term.

 

The proposal aims to address the housing shortage that has plagued Americans, pushing rents higher and making homeownership increasingly unaffordable. Harris has highlighted the need for collaboration between federal, state, and local governments, as well as the private sector, to spur construction. Her plan includes tax incentives for building affordable housing and streamlining permitting processes to expedite construction.

“Harris has really focused on encouraging additional housing production to lower prices,” said Urban Institute researcher Yonah Freemark. While increasing housing availability could help, Freemark pointed out that achieving a 50% jump in housing construction, as Harris’ plan calls for, will be a significant challenge. Issues such as financing, labor shortages, and supply chain disruptions could hinder progress.

 

READ ALSO; Canada relaxes some mortgage rules to tackle housing crisis

 

The campaign’s goal of 3 million homes over four years represents a 50% increase over current projections, which many experts see as difficult to attain. “A jump of that level would be quite difficult,” Freemark added, noting that Harris’ plan still leaves some details vague.

 

While the Federal Reserve’s recent interest rate cut could alleviate some pressure on the housing market, other hurdles remain. Congressional approval and potential resistance from local governments over zoning laws could pose significant challenges to Harris’ housing vision.

 

READ ALSO; Stanbic IBTC Bank Introduces Flexible Home Loans to Address Lagos Housing Crisis

 

Experts agree that where and how these homes are built will be key to the plan’s success. Economist Kyle Moore emphasized the importance of building homes in areas with job opportunities while ensuring safety and sustainability.

 

With Americans increasingly spending large portions of their income on rent, and homeownership seen as a vital path to financial security, the stakes are high for Harris’ plan to succeed. The housing crisis, experts warn, is more than just a political talking point—it’s a critical economic and social issue that needs urgent attention.

The post Harris Unveils Bold Plan to Build 3 Million Homes Amid Housing Crisis appeared first on Housing TV Africa.

This initiative aims to counteract inflationary pressures and offers a stark contrast to former President Donald Trump’s approach to housing and economic policy.

In a compelling one-minute advertisement released on Tuesday, Harris shares her personal story of growing up in rental housing while her mother saved for a decade to purchase a home. The ad targets key swing states like Arizona and Nevada, and the campaign is organizing 20 events this week focused on housing issues to bolster support.

Harris’s plan includes not only a significant increase in home construction but also proposes up to $25,000 in assistance for first-time homebuyers. This move comes as housing costs have contributed to upward pressure on the consumer price index, with shelter costs rising 5.1% over the past year compared to a 2.9% increase in overall inflation, according to the Bureau of Labor Statistics.

READ ALSO: VP Harris Unveils Plan to Tackle Soaring Housing and Grocery Prices

Dan Kanninen, the campaign’s director for battleground states, emphasized, “Vice President Harris understands the urgent need to address our housing crisis. Her plan will tackle the housing shortage and hold corporate landlords and Wall Street banks accountable for driving up rents and housing costs.”

The Harris plan also includes tax incentives for homebuilders focusing on first-time buyers and expands support for companies constructing rental housing. To address local zoning restrictions that limit housing supply, Harris proposes doubling funding to $40 billion to encourage local governments to remove these regulations.

In contrast, Donald Trump, despite his background as a real estate developer, has faced criticism for the persistent housing shortage during his presidency. This issue worsened with inflationary pressures following the pandemic and rising food and energy costs exacerbated by global events such as Russia’s invasion of Ukraine. Critics have pointed to these factors as contributing to the decline in President Joe Biden’s approval ratings, with some attributing the inflation surge to his pandemic relief measures.

READ ALSO: Biden-Harris Administration Allocates $20 Billion to Expand Clean Energy Access and Lower Energy Costs

Trump’s approach includes various proposals to reduce housing costs, such as his suggestion to address illegal immigration to lower demand for housing. Trump has also proposed opening up more federal land for home construction and creating new cities. Supporters of Trump’s agenda argue that reducing federal spending could lower interest rates, though deficits increased during his presidency.

Trump’s campaign has criticized Harris’s housing plan, with Karoline Leavitt, the Trump campaign’s national press secretary, accusing her policies of worsening housing affordability issues. Trump himself has questioned the feasibility of Harris’s plan, alleging without evidence that it could benefit individuals without legal status.

READ ALSO: Biden and Trump Differ on Lowering Home Prices and Rents

As part of her campaign strategy, Harris plans to host housing affordability events in several key cities, including Harrisburg, Philadelphia, and Pittsburgh in Pennsylvania; Phoenix and Tucson in Arizona; Las Vegas and Reno in Nevada; Asheville and Charlotte in North Carolina; and Savannah in Georgia.

The upcoming campaign events are expected to further highlight Harris’s commitment to addressing the housing crisis and provide a platform for discussing her proposals in detail.

The post Vice President Kamala Harris Unveils Ambitious Plan to Build 3 Million Homes appeared first on Housing TV Africa.

Harris emphasized her focus on strengthening the middle class, outlining her vision for what she calls an “opportunity economy.”

On her first day in office, Harris plans to implement measures to reduce the cost of everyday goods, invest in small businesses, and support families through initiatives like extending the child tax credit to $6,000 for the first year of a child’s life.

READ ALSO: Biden-Harris Administration Allocates $20 Billion to Expand Clean Energy Access and Lower Energy Costs

Harris also addressed key policy positions, stating that her values have remained consistent despite evolving circumstances. She reiterated her commitment to combating climate change and securing the U.S. border while maintaining a strong stance on Israel’s defense amid ongoing conflicts.

When asked about the potential appointment of a Republican Cabinet member, Harris expressed her intent to foster diverse perspectives in her administration, emphasizing the importance of bipartisan cooperation.

READ ALSO: VP Harris Unveils Plan to Tackle Soaring Housing and Grocery Prices

Harris also responded to former President Trump’s recent controversial remarks, dismissing them as part of a “tired playbook,” refusing to engage with his racially motivated attacks.

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