On account of coronavirus, millions of Americans are facing evictions — but the Trump administration is promising help.
Larry Kudlow, Trump’s economic adviser, revealed that President Trump is planning to renew its federal eviction moratorium, the Washington Examiner reported.
Trump will extend eviction moratorium
The Trump administration enacted the moratorium in March as part of the mammoth CARES Act, but it expired last week. Seeking to placate concerns, Kudlow told CNN Sunday that the provision will be extended in the next coronavirus rescue bill.
“We will lengthen the eviction [moratorium],” Kudlow told CNN’s Jake Tapper on Sunday. “We will lengthen it.”
That’s welcome news to the roughly 12 million renters who are covered by the policy, which insures renters living in properties with government-backed mortgages. Struggling renters in properties with privately-backed mortgages are out of luck.
The solemn promise comes as continued economic hardships, sparked by the coronavirus pandemic and related lockdowns, pressure the White House and Congress to perpetuate a huge glut of federal spending to help families, businesses, and state and local governments struggling to stay solvent.
Senate Majority Leader Mitch McConnell (R-Ky.) is expected to unveil the party’s $1 trillion proposal for CARES 2 later Monday, a response to the Democrats’ $3 trillion plan, following days of talks with the White House.
Republicans poised to introduce bill
Lawmakers were still negotiating as of Monday afternoon, but the package is thought to include the moratorium extension, in addition to additional stimulus checks, tax incentives, and other stopgaps.
“The check is there, the reemployment bonus is there. The retention bonus is there,” Kudlow said on Sunday. “There will be breaks, tax credits for small businesses and restaurants.”
However, Republicans are at odds with Democrats on whether to keep funding a $600 expansion to unemployment insurance, which is set to expire this week. Democrats are also cool to liability protections, which Republicans insist are a necessity as businesses look to reopen.
Nobody could accuse Trump of sticking too closely to “fiscal conservatism,” that’s for sure. But there remains plenty of uncertainty. About a third of all renters think they can’t pay next month’s rent, and it will likely take some time to pass the next relief bill.
America needs to get the economy going again, before this gets much worse.
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