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Senate Approves $1.9 Trillion COVID-19 Relief Package, Including $27.4 Billion for Rental Housing Assistance

Saturday, March 6, 2021 - 10:15AM

The United States Senate Saturday approved the American Rescue Plan Act, a $1.9 trillion COVID-19 relief bill that includes $27.4 billion for rental housing assistance. The legislation passed by a 50-49 vote and now goes to the House of Representatives for approval on Tuesday before advancing to President Joe Biden’s desk. The rental housing assistance includes $21.55 billion for emergency rental assistance, $5 billion in emergency housing vouchers, $750 million for tribal housing needs and $100 million for rural housing. The legislation also includes $5 billion to assist people experiencing homelessness. The bill includes $1,400 individual stimulus checks and $300 weekly unemployment insurance payments through Sept. 6.

Novogradac will have more information and analysis on the legislation. The effects of COVID-19 and pandemic-related relief will be topics of discussion at the Novogradac 2021 Affordable Housing Virtual Conference, April 29-30.

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