As Trump calls affordability a 'con job,' Democrats unveil an affordable housing plan

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WASHINGTON — As the economy emerges as a likely defining issue in next year’s midterm elections, President Trump has wrestled with Americans’ rising cost of living, declaring himself the “affordability president,” then soon dismissing the issue as something that “does not mean anything to anybody.”At two White House events this week, the president accused Democrats of pushing a “fake narrative” about affordability to trick voters ahead of the election, calling them “great con people” who do not offer details about how they intend to lower prices.“It’s a con job.I think affordability is the greatest con job,” Trump said Wednesday.Meanwhile, Democrats on Capitol Hill are moving to shape an affordability-focused agenda ahead of the midterms, including a proposal to address rising housing costs.Sen.

Adam Schiff (D-Calif.) will introduce legislation Thursday aimed at increasing the supply of affordable housing for low-income and middle-income families, expanding rental assistance and boosting funding for long-term housing and emergency homeless shelters, according to a draft copy of the bill reviewed by The Times.“Of all the affordability challenges Americans face, housing is the most acute.This is certainly the case in California, but it’s true across much of the country,” Schiff said in an interview.

“I want to see the Democratic Party be the party advocating for the next housing boom in America.” California Local officials say more than 14,500 L.A.County households in subsidized, permanent housing could be forced into homelessness, mostly because of federal cuts.The 48-page bill — titled the Housing BOOM (Building Occupancy Opportunity for Millions) Act — proposes expanding federal tax credits to help finance the development and rehabilitation of affordable housing.It would create a $10-billion annual loan fund and a $5-million annual g...