Blessing Issues Statement on President Trump's Plan to Address Housing Affordability Crisis

COLUMBUS—Senator Louis W. Blessing, III (R-Colerain Township)  issued the following statement regarding President Trump's intention to ban large investors from buying single-family homes:

"I applaud President Trump's efforts to rein in large institutional housing investors and their deleterious effects on home prices and property taxes. I would respectfully submit, Mr. President, that you use Senate Bill 28, a bipartisan Ohio Senate bill, as a blueprint for Congress. I believe it will accomplish your goal.
 
I would be remiss if I didn't point out the myriad tax changes in the TCJA and OBBBA that have actually supercharged institutional homebuying, with the 20% pass-through-entity deduction being a major culprit. The so-called "Corker kickback" correlates quite well with a renewed institutional home-buying push not long after the passage of the TCJA. It was a mistake that needs to be rectified.

This is an issue that has significant bipartisan support. Elected officials from both major political parties in multiple states, from city councils up to Congress, have been instrumental in pushing this issue forward. It would be an incredibly powerful statement to pass legislation in a bipartisan fashion.
 
I think you will find policy changes such as this to not only be broadly popular, but also will help with America's affordability crisis."