Bill seeks $100 billion Emergency Rental Assistance Program

Federal funding would help renters, landlords affected by coronavirus
Maggie Hassan Committeeface

U.S. Sen. Maggie Hassan, D-NH.

U.S. Sen. Maggie Hassan, D-NH, has joined a group of senators and members of the U.S. House calling for establishment of a $100 billion Emergency Rental Assistance Program aimed at helping people pay their rent during the Covid-19 crisis.

The Emergency Rental Assistance and Rental Market Stabilization Act of 2020 was introduced in the House by U.S. Rep. Denny Heck, D-Wash. U.S. Sen. Sherrod Brown is expected to introduce a companion bill in the Senate.

The bill would establish an Emergency Rental Assistance program to provide $100 billion in emergency rental assistance to help families and individuals pay their rent and remain housed during and after the Covid-19 crisis. The program would be based on the existing federal Emergency Solutions Grant program, which supports emergency short-term rental assistance.

The bill would offer rental assistance to anyone earning up to 80% of median income, although exceptions may be made in areas where rents are particularly high.

Stabilizing renters and helping make landlords whole through the crisis will help the economy recover from the economic aftershocks of the pandemic, Hassan said.

“Covid-19 is taking an unprecedented toll on families in New Hampshire and across the country, and no one should be forced out of their home because they are facing financial uncertainty as a result of this crisis,” she said. “This legislation will provide vital assistance to keep renters safely housed as our country continues to grapple with the economic impacts of this pandemic.”

Categories: Government, News, Real Estate & Construction

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