A Los Angeles city councilman wants to lower the annual rent cap to 60% of the Consumer Price Index, the same formula used in San Francisco.

At present, the annual cap on rent increases for rent controlled housing in L.A. comes to 4%, a figured determined by the rate of inflation. The city’s ordinance also includes a 3% floor, meaning rents can never be capped below 3% no matter what happens to CPI.

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