Biden expected to extend the national ban on evictions through March 2021

Personal finance

(L-R) Doug Emhoff, U.S. Vice President-elect Kamala Harris, Jill Biden and President-elect Joe Biden wave as they arrive on the East Front of the U.S. Capitol for the inauguration on January 20, 2021 in Washington.

Joe Raedle | Getty Images

President Joe Biden on Wednesday is expected to extend the federal ban on evictions through March 2021 through an executive action in one of his first official acts following inauguration.

The ban on evictions has helped millions of Americans struggling amid the coronavirus pandemic. The moratorium on evictions was set to expire at the end of the month.

The move is one of a long list of actions Biden is set to take as soon as he’s sworn in as the President of the United States, including an extended pause on student loan payments, rejoining the Paris Agreement on Climate Change and rolling back various orders put in place by the Trump administration.

More from Invest in You:
Biden pledges to help fix the child-care crisis. Here is his plan
Mother of five’s plan to freeze her spending for January
Deepak Chopra: We’re experiencing 3 pandemics. How to cope

By one estimate, 14 million Americans are behind on their rent during the crisis. In addition to extending the eviction ban through March, Biden is also expected to ask Congress to keep the moratorium in place through September 2021.

Research has found that evictions lead to significantly more coronavirus cases and deaths in an area.

“This is a time where it’s not an overstatement to say that for many people, eviction can lead to death,” said Helen Matthews, communications manager at City Life Vita Urbana, a nonprofit in Boston.

Advocates say extending the eviction ban is just a first step, and that there also needs to be enforcement to make sure landlords follow the law.

“The existing moratorium is flawed and some landlords exploit loopholes to evict tenants despite the protections,” said Diane Yentel, president and CEO of the National Low Income Housing Coalition, in a statement. “No federal agency is enforcing the order’s penalties for unlawful evictions.”

In addition, there are growing calls for the ban to be matched with adequate rental assistance so that an eviction crisis is prevented rather than merely delayed. So far, Congress has allocated $25 billion in rental assistance but, after months of record job losses, rental arrears may be closer to $100 billion.

SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.

CHECK OUT: A year after I started my side hustle, it was bringing in $10,000 a month: Here’s what I’ve learned via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Products You May Like

Articles You May Like

The 2021 Tax Filing Deadline is Extended for Texas Residents
Lawmakers look to offer tax relief to beauty salons
Elon Musk says SpaceX ‘will double’ Starlink satellite internet speeds later this year
As tax pros wade into 2020 season, 2021 presents early complications
Self-employed and gig workers could get bigger loans under new PPP rules. They may want to wait to apply

Leave a Reply

Your email address will not be published. Required fields are marked *