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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.

Go deeper

D.C. launches $900 monthly cash pilot for moms

Illustration: Shoshana Gordon/Axios

Over 100 new and expectant mothers in D.C.’s poorest wards will receive $900 a month in cash under a new city-funded pilot program to help families raise children.

Why it matters: The $1.5 million year-long program is one of the few of its kind in the nation, and it stands out for having no restrictions on how mothers can spend the funds to support their babies.

Updated 17 mins ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Pfizer and Moderna boosters overwhelmingly prevent Omicron hospitalizations, CDC finds — Omicron pushes COVID deaths toward 2,000 per day — The pandemic-proof health care giant.
  2. Vaccines: The case for Operation Warp Speed 2.0 — Starbucks drops worker vaccine or test requirement after SCOTUS ruling — Kids' COVID vaccination rates are particularly low in rural America.
  3. Politics: Biden concedes U.S. should have done more testing — Arizona says it "will not be intimidated" by Biden on anti-mask school policies.
  4. World: American Airlines flight to London forced to turn around over mask dispute — WHO: COVID health emergency could end this year — Greece imposes vaccine mandate for people 60 and older — Austria approves COVID vaccine mandate for adults.
  5. Variant tracker
Updated 1 hour ago - Economy & Business

Janet Yellen co-opts Reaganomics phrase for new Davos speech

Treasury Secretary Janet Yellen at a speech this week. Photo: Alex Wong/Getty Images

The U.S. needs to focus on increasing its productive potential, Treasury Secretary Janet Yellen told world leaders Friday, calling for what she terms "modern supply side economics."

Why it matters: She co-opted a phrase traditionally used by political conservatives to describe low-tax and deregulatory policies — and framed the Biden administration's initiatives as the best path forward to achieve greater national prosperity.