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Biden COVID-19 Plan Calls for $30 Billion in Rental Assistance, Extension of Eviction Ban Through Sept. 2021

Joe Biden

Biden COVID-19 Plan Calls for $30 Billion in Rental Assistance, Extension of Eviction Ban Through Sept. 2021

LAS VEGAS, NV – President-Elect Joe Biden unveiled his proposed $1.9 trillion COVID-19 stimulus plan last week, and in addition to economic initiatives such as extending and enhancing unemployment coverage and providing funds for state and local governments, he’s also pushing for billions in rental assistance and an eight-month extension of the current residential eviction moratorium, according to reports.

Biden will be asking lawmakers to approve $30 billion in renal assistance for those who are facing eviction due to non-payment of rent due to COVID-related financial issues. These funds, if approved, would go hand-in-hand with the $25 billion in rental assistance that was part of the December 2020 stimulus bill. In addition, another $5 billion would be made available to those who are homeless – or are on the verge of being so – or acquire housing, and separate money would be offered to those who need legal representation to help fight a pending eviction.

Another huge provision of Biden’s proposed stimulus plan is an extension of the federal eviction moratorium enacted by the Centers for Disease Control and Prevention in September 2020 that is due to last until January 31, 2021. Biden’s plan, if approved by lawmakers, would extend that eviction ban until September 30, 2021, and would cover the majority of renters throughout the United States.

Currently, it is unknown if Biden’s stimulus package, which he has stated is a major priority for his administration, will pass in its current form. However, given the slim majority that Democrats currently have in the House and Senate, it is indeed possible; in addition, experts note that some aspects of the plan could be passed via executive order if the plan does not make it past lawmakers.

Currently, approximately 14 million Americans are behind on their rent due to the ongoing pandemic.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.