Biden calls for $30 billion in rental assistance, longer eviction ban

Biden calls for $30 billion in rental assistance, longer eviction ban

U.S. President-elect Joe Biden.

Chip Somodevilla | Getty Images

President-elect Joe Biden will call on Congress to pass a range of protections and financial relief for Americans at risk of losing their homes because of the coronavirus pandemic.

To stop a wave of evictions, Biden plans to ask lawmakers to approve $30 billion in rental assistance on top of the $25 billion in aid approved in the most recent $900 billion stimulus package, according to a briefing document distributed prior to the president-elect’s Thursday night speech.

Another $5 billion would go toward finding those experiencing or at risk of homelessness secure housing, and a fund would help individuals facing eviction get legal assistance.

More from Personal Finance:
Interest rates tank as Americans start to save more
Being unemployed in 2020 could lead to surprise tax bill
How to switch your Medicare Advantage Plan if you want to

Biden also plans to ask Congress to extend eviction and foreclosure bans until Sept. 30, 2021. The current eviction moratorium is scheduled to expire at the end of the month.

Around 19% of renters were behind on their housing payments in December, according to the Center on Budget Policies and Priorities. Closer to 30% of Black renters were behind.

Meanwhile, studies have also shown that evictions lead to significantly more coronavirus cases and deaths in an area.

This is a breaking news story. Please check back for updates.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *