Costa Statement on Emergency Housing Protections and Relief Act

Jun 30, 2020
Press Release

(WASHINGTON) Congressman Jim Costa (CA-16) released the following statement after House passage of H.R. 7301, the Emergency Housing Protections and Relief Act of 2020, which responds to the housing needs of Americans across the country experiencing hardship as a result of the COVID-19 pandemic:
 
“People in our Valley and across the country are struggling to pay rent and make their mortgage payments,” said Costa. “We cannot afford to wait any longer. As we learned from the 2008 housing crisis, we need swift action to limit further shocks to our housing markets and keep families in their homes. This bill provides critical relief to address the needs of American households around the country.” 

The bill provides immediate relief for renters, landlords, and homeowners by:  

  • Extending the eviction moratorium to March 27, 2021, and expanding it to protect all renters;
  • Providing $100 billion to help renters cover their rent and utility bills, including any unpaid bills;
       
  • Providing low cost loans for landlords and expanding forbearance protections;  
  • Providing additional funding for federal housing assistance programs to ensure rents remain affordable and housing is maintained in a safe and decent condition; 
  • Extending the foreclosure moratorium for 6 months, and expanding it to protect all homeowners;   
  • Expanding forbearance relief to protect all homeowners, and ensuring that no borrower is forced to pay a lump sum at the end of a forbearance period;   
  • Providing $75 billion for direct assistance for homeowners who are struggling to pay their mortgage, property taxes, property insurance, and other housing related costs;   
  • Providing liquidity for mortgage servicers;  
  • Providing $11.5 billion for homeless assistance grants to help ensure that people experiencing homelessness can follow social distancing guidance and have access to necessary services;  
  • Providing $1 billion for new Housing Choice Vouchers for people experiencing or at risk of homelessness and survivors of domestic violence.