Tenants Nationwide Behind on Rent Despite Billions of Unspent Federal Aid

Low-income tenants across the country are behind on rent payments because of the pandemic, even as billions of dollars appropriated by Congress to assist renters remain untouched.

About $5.2 billion of the $46.6 billion — roughly 11% — set aside for the Emergency Rental Assistance (ERA) program has been distributed to low-income tenants, according to the most recent data released by the Department of the Treasury on Wednesday. House Financial Services Committee Ranking Member Patrick McHenry characterized the Biden administration’s handling of the ERA program as “gross mismanagement.”

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Treasury Department Has Distributed Fraction of Emergency Rent Assistance with Just Days Until Evictions Begin

US Treasury Dept

The Department of the Treasury has awarded a small fraction of the tens of billions of dollars Congress appropriated for pandemic rental assistance since January.

The federal government has expended less than $3 billion of the $46.6 billion in funds given to the Emergency Rental Assistance (ERA) program, the Treasury Department announced on Wednesday. The U.S. doled out $1.49 billion from January through May and $1.5 billion in June to low-income renters nationwide, according to a spreadsheet published by the Treasury.

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Elizabeth Warren Reportedly Plans to Lobby Biden to be Treasury Secretary

Massachusetts Sen. Elizabeth Warren plans to lobby Democratic nominee Joe Biden to be his Treasury Secretary if he wins next week’s election, Politico reported Thursday evening.

“She wants it,” two Democratic officials told Politico, referring to Warren.

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