Fact Check: Is Trump introducing a 300 percent landlord tax for excessive rent hikes?

WASHINGTON, DC: President Donald Trump's "big, beautiful" tax bill passed the US House of Representatives in May and was a major win for Republicans, who spent the past two months crafting the bill and made last-minute changes to it. 

Now, a rumor has circulated online claiming that President Trump is introducing a 300 percent landlord tax for excessive rent hikes. But is there any truth to this rumor? Let us find out below.

Claim: Trump to introduce a 300 percent landlord tax for excessive rent hikes

In June, a video circulated on social media platforms X and TikTok, claiming that President Trump was introducing a 300 percent penalty tax on landlords who raise rents excessively.

An X user posted the video and captioned it, "Trump 300 percent penalty. The end of rent profiteering."

The voiceover in the viral video said, "Breaking news: Trump just declared war on America's rent crisis. Landlords are now in full panic. The Trump administration is introducing the most brutal landlord profit tax in US history."

The voiceover added, "If landlords raise rents above government-set limits, the excess will face a 300% penalty tax. Raise rent by $10,000? The IRS will take $30,000. The higher they go, the harder they fall. Profits vanish instantly."

"For years, rent has skyrocketed 35%. Today, 40% of renters hand over more than half their income to landlords. Even worse, Wall Street funds are buying entire apartment complexes, creating artificial shortages, and trapping young people in permanent rent prisons," it continued.

The video further mentioned, "At a White House press conference, Trump pointed straight at the financial giants and declared, 'Housing is not an ATM. Ordinary people are not crops to be harvested forever.' For decades, no president dared to hit real estate capital this hard. If this bill passes, will landlords survive?"

False: White House disputes the claim as 'fake'

The claims made in the viral clip are false, as the White House itself disputed the claim and called it "fake", Snopes reported.

The fact-checking outlet asked the White House whether the claims about a landlord tax were true, and a spokesperson replied via email and debunked it.

Moreover, a search on the White House website also showed no results for such a proposal, Snopes reported.

If Trump had made any such statements during a White House news conference, major news outlets likely would have reported such an event.

However, searches on major search engines, such as Google, Bing, Yahoo, and DuckDuckGo, showed no reports from credible media outlets about Trump making these comments.

President Donald Trump's 'Big Beautiful Bill'

Trump signed the Tax Cuts and Jobs Act after taking office in 2017. It lowered taxes, increased the standard deduction for all taxpayers, and mostly benefited high earners.

However, those provisions will expire after 2025, but the "Big Beautiful Bill" would make them permanent, and increase the standard deduction by $1,000 for individuals, $1,500 for heads of households, and $2,000 for married couples, albeit only through 2028, according to The Guardian.

The bill also creates several new tax exemptions, many of which come from promises the POTUS made during his campaign in 2024.

Moreover, taxpayers will now be able to write off income from tips and overtime, and interest on loans for cars assembled in the US.

Additionally, people aged 65 and above will be eligible for an additional deduction of $4,000, provided their adjusted gross income does not exceed $75,000 for single filers or $150,000 for married couples, according to the bill.