Jan 7, 2022 - Politics & Policy

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

The U.S. Treasury building

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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