Yesterday the Speaker of the House of Representatives, Nancy Pelosi (D-CA), released the latest emergency coronavirus relief package, entitled the Heroes Act. Included in the legislative package was the Emergency Rental Assistance and Rental Market Stabilization Act of 2020, a bill introduced by United States Representative Denny Heck (D-WA) and originally co-sponsored by Representative Emanuel Cleaver, II (D-MO).
"In the month of April, nearly one-third of American renters couldn't pay rent due to the economic crisis caused by the coronavirus," said Congressman Cleaver. "These are folks who, at no fault of their own, are at risk of losing shelter should the Administration and United States Congress fail to act. Not only would this leave millions of Americans without a roof over their head, but the economic impact could lead to a chain reaction that would further devastate the American economy. I'm happy to see the Speaker include this critical legislation in the Heroes Act, which would provide $100 billion in rental assistance to Americans who are in dire need of help, and I will continue to push for housing relief for American families as we debate this legislation."
The Emergency Rental Assistance and Rental Market Stabilization Act of 2020 would provide $100 billion to:
Help families and individuals pay their rent and utility bills to keep a roof over their head;
Supplement funding for households in urban and rural communities;
Help rental property owners of all sizes continue to cover their costs, including the costs of necessary maintenance to ensure residents' health and safety;
And help the economic recovery by stabilizing the rental housing market, something that contributed to the 2008 financial crisis.