New version of Kamala Harris housing bill would give many renters a monthly tax credit

In a sign of how the affordable housing crisis has become a focus for presidential contenders, Sen. Kamala Harris introduced a new version of her bill to give renters a tax credit.

The new plan introduced Tuesday will give renters that spend more than 30 percent of their income on rent and utilities a credit depending on their income, and allow beneficiaries to receive monthly checks from the government instead of getting it once a year through a tax refund.

Renters who make up to $125,000 a year would benefit, with those earning less getting the most support, and the credit would be capped based on the typical rent in the taxpayer’s neighborhood. Supporters say it would help rebalance a tax code that has long been weighted in favor of buying a home instead of renting.

Some experts have worried that giving renters a big credit would encourage landlords to raise their rents — and that doling it out monthly would make that problem more likely because landlords could expect their tenants to be able to pay more right away. But Harris’ staff argued that landlords wouldn’t factor the credit into rent prices because they couldn’t know how much future tenants would receive....