Jan 7, 2022 - Politics & Policy

Treasury Department disbursed record $2.9 billion in rental aid in November

Noah Garfinkel

The U.S. Treasury building in Washington, D.C. Photo: Samuel Corum/Bloomberg via Getty Images

The U.S. Department of Treasury distributed $2.9 billion in emergency rental assistance last November, the Treasury Department announced on Friday, the largest amount of ERA funds distributed in any month.

Why it matters: Congress approved $46.5 billion in rental assistance as part of COVID relief packages but the program. November's number marks the 3rd straight month of ERA spending above $2.8 billion, Treasury said.

The program, which is administered at the local level, was initially slow to release funds to those in need, Reuters notes.
The money was distributed to around 665,000 renters and landlords.
The eviction moratorium ended in August and the department says eviction filings remain below 60 % of historical levels.

What's next: The deadline for the second round of ERA 1 funding is Jan. 21, per the press release.

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Treasury Department disbursed record $2.9 billion in rental aid in November

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