Biden accidentally announces $55 cap rent rises after struggling to read '5%' on teleprompter
President Biden paused and visibly struggled to read the teleprompter before making the nearly impossible promise of a $55 cap on rent increases
Biden accidentally promises to limit rent increases to $55
President Biden seems to have misread his teleprompter during a speech at the NAACP conference this week, promising to cap rent increases to $55 instead of 5%. (The White House)
President Biden seemed to flub the announcement of his rent control policy agenda due to misreading the teleprompter.
The president spoke at the 115th NAACP National Convention on Tuesday in Las Vegas as part of an extensive outreach tour to court black voters.
During the speech, Biden intended to propose a 5% cap on rent increases for tenants under major landlords, but he struggled to read the teleprompter.
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President Biden speaks at the 115th NAACP National Convention at the Mandalay Bay Convention Center in Las Vegas. (Photo by Mario Tama/Getty Images / Getty Images)
"Look, folks, the idea, the idea that corporate-owned housing is able to raise your rent, 300, 400 bucks a month or something?" Biden told the audience. "Well, I’m about to announce that they can’t raise it more than…"
Biden then took a long pause and leaned in to look more carefully at the teleprompter before finishing the sentence, "…55 dollars."
The crowd cheered after a moment, and the apparent mistake went unacknowledged.
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An "Apartments for Rent" sign hangs in front of a building in Miami Beach, Florida. (Joe Raedle/Getty Images / Getty Images)
Biden had previously gotten the figure correct when he previewed the proposal at the NATO conference last week.
"It’s time things get back in order a little bit," Biden said at the time. "If I’m re-elected, we’re going to make sure that rents are kept at 5% increase."
The Biden administration ignored the NAACP flub when they announced the proper figure via an official statement and fact sheet released on Wednesday.
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President Biden gestures as he speaks during a press conference at the close of the 75th NATO Summit at the Walter E. Washington Convention Center in Washington, D.C. (Photo by SAUL LOEB/AFP via Getty Images / Getty Images)
"I’m sending a clear message to corporate landlords: If you raise rents more than 5%, you should lose valuable tax breaks," Biden said via social media. "Families deserve housing that’s affordable – it's part of the American dream."
The proposed rule would apply to landlords with more than 50 units, which would cover more than 20 million units or about half the rental market in the country, according to a fact sheet from the administration.
Fox News Digital's Megan Henney contributed to this report.