Treasury Department gives out $6 billion to assist landlords and renters. More money is on the way
Residential buildings in the East Village neighborhood of Manhattan in New York City.
James Andrews | iStock | Getty Images
The Treasury Department announced on Friday that it’s disbursed more than $6 billion to states to help renters and landlords struggling because of the coronavirus pandemic.
Between the last two major stimulus packages, Congress has allocated more than $45 billion in rental assistance. States now have access to more than $30 billion of that money, and the rest is supposed to be available over the next few months.
With the national eviction ban set to expire in weeks, housing advocates say it’s vital the funds are given out quickly.
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Even as the public health crisis fades, more than 1 in 7 adult renters in the U.S. still say they’re behind. Among Black renters, that share increases to 1 in 5.
“Treasury is committed to providing direct, rapid support to those impacted by the Covid-19 pandemic and addressing the deep disparities in our housing systems that threaten our economic recovery,” Deputy Secretary of the Treasury Wally Adeyemo said in a statement.