The parameters of the new legislation were not immediately clear but it’s expected to be narrower in scope than the failed $3.4 trillion Heroes Act the House passed in May.
In a plan approved Wednesday by the City-County Council, Indianapolis will appropriate its remaining federal Coronavirus Relief Funds to various public health, social services, economic and government-related investments.
White House officials have discussed efforts to provide support for the flagging airline industry, bolster unemployment benefits, direct more money for school vouchers and improve President Donald Trump’s recent payroll tax changes to make them more effective.
Democrats say the GOP bill is far too small and leaves out important priorities, including hundreds of billions of dollars for state and local governments.
The $40 million program provides up to $500 a week for up to four weeks to renters whose income is lower than it was on March 6 due to the COVID-19 pandemic.
Advocates for low-income families and other Americans struggling to afford their housing costs praised the Trump administration for its approach, which is broader than what Congress enacted earlier in the pandemic.
Treasury Secretary Steven Mnuchin said Tuesday the administration remains willing to work on a bipartisan agreement to help small businesses, the unemployed, children and schools.
According to the Census Bureau, about a third of renters said in July that they had no confidence or slight confidence in their ability to pay for housing in August.
Fannie and Freddie, which backstop about $5 trillion of home loans, will also extend their moratorium on evictions from real-estate owned properties until at least Dec. 31, the Federal Housing Finance Agency said.
Behind the Fed’s new thinking is an ailing economy in the grip of a viral pandemic and a stubbornly low inflation rate that has long defied the Fed’s efforts to raise it.
The pandemic has caused airline travel to fall sharply, decimating revenue. Travel has recovered somewhat from very low points in March and April, but it still hasn’t come back to its pre-pandemic levels.
As Indiana’s eviction and foreclosure moratorium comes to an end, a coalition of housing advocates is warning that as many as 720,000 Hoosiers are at risk of being ousted from their homes.
The proposed budget takes in $113,884 more than it spends, leading Indianapolis Mayor Joe Hogsett’s administration to characterize it as the fourth consecutive balanced budget since he took office in 2016.
As Indiana’s moratorium on evictions is set to end on Friday, legal aid providers are estimating the national price tag for helping tenants facing the prospect of losing their places to live will top $2.5 billion.
President Trump’s directives were aimed at offering new unemployment benefits, protecting renters and postponing the payment of a federal tax. But an array of economists and lawmakers depicted these policies as unworkable or legally questionable.
Two measures signed by President Trump on Saturday aim to provide $400 in weekly unemployment aid and defer payroll tax payments for people who earn less than $100,000. Two others are related to eviction protections and student loan relief.
