A few folks in the comments have mentioned a couple of times that it doesn't make sense to make a policy like this without supporting transit. I believe the argument would be that not creating induced demand will provide market effects to encourage the use of transit, which would then create greater demand for improved transit.
Similarly for housing, the well substantiated claim from modern urban planners is that we've been prioritizing housing for cars well beyond housing for people, and the best solution for that is to overturn minimum parking requirements and unbundle the cost of parking from the cost of housing.
Personally, I still find these opinions somewhat counterintuitive. The weirdest part about it is that it all posits that the solution to a centralized planning problem is market solutions, and it's coming from people you'd expect to have the opposite opinion. However, what we've had in terms of transportation clearly doesn't work for people and for the environment, and the last 20 years of "Shoupism" has shown some serious promise in terms of reversing the trend.