The Senate approved a budget bill that sets the stage for passage of President Joe Biden’s $1.9 trillion relief package.
The late-night vote was 51 to 50 along party lines, with Vice President Kamala Harris breaking the tie, although a number of Republican amendments were added, the Washington Post reported.
The bill includes $25 billion in rent relief, added to the $25 billion already passed by Congress in December, as well as $5 billion to cover utility costs and another $5 billion for those experiencing or at risk of homelessness.
It would also extend federal eviction and foreclosure moratoriums to the end of September.
The measure would send $1,400 direct payments to individuals, helping some households make rent and mortgage payments. The Senate passed amendments to block undocumented persons and high-income earners from receiving the checks.
The House is expected to swiftly approve the budget resolution, after which Congress can begin crafting Biden’s $1.9 trillion relief bill. Lawmakers estimate the legislation will be completed by mid-March, which means the multifamily market would not see federal rental subsidies for another month.
[Washington Post] — Georgia Kromrei