WASHINGTON (NEWSnet/AP) — President Joe Biden is set to propose a 5% cap on annual rent increases for tenants of major landlords..

Announcement of the proposal is expected Tuesday when the president visits Nevada.

The plan would require solid Democratic control of Congress to become law. Most policymakers have said the best way to limit housing cost is through additional construction and changes to land use regulations.

Biden previewed the announcement last week at his NATO news conference, folding it into comments that blamed inflation on companies trying to maximize profit in the aftermath of the pandemic.

"It’s time things get back in order a little bit," Biden said. “If I’m re-elected, we’re going to make sure that rents are kept at 5% increase."

The Washington Post first reported details of the proposal, which would apply only to landlords who own 50 or more units.

The median national rent in June was $1,411 per month, up from roughly $1,150 in early 2021 when Biden became president, according to Apartment List.

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