Biden releases $21.6 billion in new aid for renters

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The administration on Friday authorized $21.6 billion for emergency rental assistance to help prevent evictions during the COVID-19 pandemic, the Treasury Department announced.

Treasury said the money will come from the $1.9 trillion American Rescue Plan signed into law by President Biden in February. New guidance issued Friday said the aid “must be offered directly to renters when landlords do not accept direct payment.”

The move comes after a federal judge in Washington ruled this week that an eviction moratorium imposed by the Centers for Disease Control was not authorized by federal law. The administration is appealing that ruling.

Treasury said the $21.6 billion “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.”

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