Senate clears path for $1.9T package including rent relief

Budget vote presages mid-March passage of Biden pandemic aid bill

National /
Feb.February 05, 2021 09:19 AM
Vice President Kamala Harris (Photos via Getty/Illustration by Kevin Rebong for The Real Deal)

Vice President Kamala Harris (Photos via Getty/Illustration by Kevin Rebong for The Real Deal)

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

 

Related Articles

arrow_forward_ios
The seven-bedroom mansion sits on land once owned by George Washington. (TTR Sotheby's International Realty)
Washington Commanders owner unmasked as buyer of DC-area’s most expensive mansion
Washington Commanders owner unmasked as buyer of DC-area’s most expensive mansion
Ministerial Privilege: Would Tony Blair’s transfer tax loophole work in the U.S.?
Ministerial Privilege: Would Tony Blair’s transfer tax loophole work in the U.S.?
Ministerial Privilege: Would Tony Blair’s transfer tax loophole work in the U.S.?
President Joe Biden and NAR president Charlie Oppler (Getty, NAR)
Biden’s new eviction moratorium immediately challenged in court
Biden’s new eviction moratorium immediately challenged in court
President Biden at the Leaders Summit On Climate. (Getty)
Building owners crucial to Biden’s climate goals
Building owners crucial to Biden’s climate goals
Texas courts ignore federal ban on evictions
Texas courts ignore federal ban on evictions
Texas courts ignore federal ban on evictions
The effective rate was 1.1 percent, on average, in 2020, down from 1.14 percent in 2019. (iStock)
Homeowners’ property taxes grew twice as fast last year
Homeowners’ property taxes grew twice as fast last year
Allen Weisselberg and Manhattan District Attorney Cy Vance (Getty)
Feds subpoena Trump CFO’s personal bank records
Feds subpoena Trump CFO’s personal bank records
Clockwise from top left: Rep. Mikie Sherrill, Tom Suozzi, Bill Pascrell, Josh Gottheimer and President Joe Biden (Getty)
SALT shakeup: Democrats pressure Biden to repeal tax cap
SALT shakeup: Democrats pressure Biden to repeal tax cap
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...