House Democrats have introduced legislation to create a $35 billion fund to assist homeowners affected by COVID-19.
As the nation endures the impact of the COVID-19 pandemic, Committee Democrats led by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, have released the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic.
This legislation executes the comprehensive plan released by Chairwoman Waters and Committee Democrats last week.
H.R. 6321 includes provisions to protect consumers, renters, homeowners, and people experiencing homelessness, including a bill from Representative David Scott (D-GA) to authorize a $35 billion fund that would be allocated to states, territories, and D.C. by the Treasury Secretary to help homeowners with mortgage and utility payments.
Representative Scott’s bill and numerous other provisions from H.R. 6321 are part of the Take Responsibility for Workers and Families Act, House Democrats’ phase three coronavirus response bill that injects more than $2.5 trillion into the American economy. Chairwoman Waters is a cosponsor of the Take Responsibility for Workers and Families Act.
“In the span of just a few short days, our nation has seen an unprecedented drop in economic activity as communities have taken the grim but necessary steps needed to protect the health and safety of their residents,” said Congressman Scott. “As families and workers in Georgia are already seeing job interruptions, losses, and increased pay uncertainty, Congress must act to keep them in their homes while this crisis intensifies.
“My bill, which authorizes funding to all 50 states and territories, will help homeowners struggling to make ends meet in the midst of this global pandemic. In recent days, Congress has passed economic stimulus legislation to help small businesses and families weather this storm. As we continue to craft a coordinated and comprehensive response, we must take every step in our power to protect housing security for all Americans.”