Vice President Kamala Harris is set to announce her comprehensive housing policy proposals, which aim to address the pressing issues of rising rent costs and financial struggles faced by renters. The campaign official provided NBC News with details of Harris' plans, highlighting her support for initiatives that combat data firms' impact on lease rates and prevent Wall Street investors from purchasing homes in bulk for resale at inflated prices.

One of the key proposals put forward by Harris is the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act. This bill, introduced by Senators Ron Wyden of Oregon and Peter Welch of Vermont, aims to ensure corporate landlords cannot exploit private equity-backed price-setting tools to significantly increase rents across communities nationwide.

Additionally, Harris will urge Congress to pass the Stop Predatory Investing Act, a bill led by Senator Sherrod Brown of Ohio with the support of several Democratic senators. This legislation aims to protect communities from being exploited by Wall Street investors and distant landlords. It seeks to curtail unfair practices by eliminating key tax benefits for major investors who acquire a large number of single-family rental homes.

Sources familiar with the situation indicate that Harris plans to lend her wholehearted support to both measures. Furthermore, she will express her endorsement for the Biden administration's ongoing efforts to expand rental assistance for Americans, including veterans, increase housing supply for the homeless, enforce fair housing laws, and prevent the misuse of taxpayer funds by corporate landlords.

The swift transition from being President Joe Biden's running mate to a presidential nominee has prompted Harris to swiftly develop her own policy platform and establish her unique stance on critical issues. Harris is set to address the economy in a speech scheduled for Friday afternoon, marking her entry into the policy arena.

By advocating for practical measures that aim to lower rent costs and protect renters, Vice President Harris is demonstrating her commitment to addressing the housing crisis and ensuring fairness in the rental market. As Harris continues to solidify her policy positions, her proposals will be closely observed by lawmakers and the public alike as they hold the potential to significantly impact the lives of American renters and the broader housing market.