Treasury Announces Additional $21.6 Billion in Emergency Rental Assistance Allocation
Today’s Announcement Includes Strengthened Guidance to Expedite Resources and Prevent Evictions Due to the Affordable Housing Challenges Exacerbated by Covid-19
WASHINGTON – Today, the U.S. Department of the Treasury, in coordination with the White House American Rescue Plan Implementation Team and the U.S. Department of Housing and Urban Development, announced the allocation of an additional $21.6 billion under the American Rescue Plan for Emergency Rental Assistance, which will help prevent evictions and ensure basic housing security for millions of Americans impacted by the affordable housing challenges exacerbated by COVID-19.
In addition to this financial support, Treasury issued updated, strengthened guidance to expedite funds to renters and target those most severely in need of assistance. For example, the guidance makes clear that the $21.6 billion of emergency rental assistance made available through this program must be offered directly to renters when landlords do not accept direct payment. The guidance also reduces burdensome documentation requirements and wait times that can slow down assistance.
This infusion of additional support will benefit both renters and landlords and make sure states and localities that have moved quickly to address housing affordability challenges wrought by the public health emergency and its negative economic impacts in their areas will continue to have the resources they need to serve their communities.
These latest resources and guidance represent an all-of-government approach that leverages authorities and agencies across the entire Administration, including the Department of the Treasury, the Department of Housing and Urban Development, and the White House American Rescue Plan Implementation Team.