Department of the Treasury officials said an additional $21.6 billion has been allocated for emergency rental assistance to prevent evictions and ensure housing amid the COVID-19 pandemic.
The White House American Rescue Plan Implementation Team and Department of Housing and Urban Development (HUD) collaboration yielded the American Rescue Plan for Emergency Rental Assistance.
The Treasury Department has issued bolstered guidance designed to expedite funds to renters while also identifying those most severely in need.
The guidelines detail how the $21.6 billion of emergency rental assistance must be offered directly to renters when landlords do not accept direct payment, reducing documentation requirements and wait times that could potentially slow down assistance.
The funding allotment is expected to aid renters and landlords. The effort seeks to ensure states and localities have moved quickly to address housing affordability challenges caused by the pandemic and provide resources to navigate negative economic impacts.
The Department of Treasury indicated the latest resources and guidance represent a government inclusive approach leveraging authorities and agencies across the Administration, including the Department of the Treasury, the Department of Housing and Urban Development, and the White House American Rescue Plan Implementation Team.