Senate Democrats Introduce Legislation to Rein in Corporate Landlords, Invest in Affordable Housing, and Support Homeownership
Mar 02, 2026
By Alayna Calabro, NLIHC Senior Policy Analyst
Senators Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee; Jeff Merkley (D-OR), Ranking Member of the Senate Budget Committee; and 16 Democratic senators introduced the “American Homeownership Act” (S.3904) on February 24 to rein in corporate landlords and help people achieve homeownership. The bill would end tax breaks and other benefits for corporate landlords and reinvest the tax savings to increase the supply of affordable housing and boost homeownership. NLIHC has endorsed the bill.
Corporate landlords are exacerbating the affordable housing crisis by purchasing large numbers of houses and subjecting tenants to massive rent hikes, hidden fees, poor maintenance, and baseless evictions. According to a fact sheet on the “American Homeownership Act,” giant private equity firms own nearly 450,000 single-family homes, more than 2.2 million apartments, and are the biggest landlords of mobile homes in America. Numerous investigations have uncovered the abuses committed by corporate landlords of multifamily rentals and manufactured housing communities.
The “American Homeownership Act” would end major federal tax deductions and other benefits for corporate landlords; invest the savings from ending those tax breaks to build more housing, lower costs, and promote homeownership; and empower antitrust enforcers to prevent corporate buy-ups that squeeze out families trying to buy their own homes or afford their rent.
“The American Homeownership Act seeks to limit the role speculative investment plays in shaping housing opportunity in this country,” said NLIHC President and CEO Renee M. Willis in a press release. “This legislation is an important step toward ensuring that housing serves people, not speculative profit, and that people with the lowest incomes can secure quality, accessible, and affordable homes in communities of their choice. I applaud Senator Warren’s and her co-sponsors' leadership in putting forth legislation to establish a level playing field where low-income families aren’t overpowered by large investors with short-term goals.”
The bill text is available here.
A fact sheet is available here.
Read a press release announcing the bill here.