![](https://images.jacobinmag.com/wp-content/uploads/2024/07/17144438/GettyImages-2162012568-420x315.jpg)
What Joe Biden’s “Rent Cap” Really Does
Joe Biden just announced a proposal to force big landlords to choose between capping rent increases at 5% annually or losing access to a coveted tax write-off. It’s not a real rent cap — but it potentially opens the door to bolder federal action.