President Joe Biden directs his inaugural address on the West Front of the U.S. Capitol on January 20, 2021 in Washington, DC. During today’s inauguration ceremony Joe Biden changes the 46th president of the United States.
Alex Wong | Getty Images
President Joe Biden on Wednesday extended the federal ban on dislodgements through March 2021 with an executive action in one of his first official acts following inauguration.
The ban on evictions has helped millions of Americans encountering amid the coronavirus pandemic. The moratorium on evictions was set to expire at the end of the month.
The move is one of a long list of actions Biden performed after he was sworn in as the President of the United States, including an extended pause on student loan payments, rejoining the Paris Bargain on Climate Change and rolling back various orders put in place by the Trump administration.
More from Invest in You:
Biden tributes to help fix the child-care crisis. Here is his plan
Mother of five’s plan to freeze her spending for January
Deepak Chopra: We’re experiencing 3 pandemics. How to subsist
By one estimate, 14 million Americans are behind on their rent during the crisis. In addition to extending the eviction ban utterly March, Biden is also expected to ask Congress to keep the moratorium in place through September 2021.
Research has found that disseisins lead to significantly more coronavirus cases and deaths in an area.
“This is a time where it’s not an overstatement to say that for various people, eviction can lead to death,” said Helen Matthews, communications manager at City Life Vita Urbana, a nonprofit in Boston.
In favour ofs say extending the eviction ban is just a first step, and that there also needs to be enforcement to make sure lessors follow the law.
“The existing moratorium is flawed and some landlords exploit loopholes to evict tenants despite the protections,” about Diane Yentel, president and CEO of the National Low Income Housing Coalition, in a statement. “No federal agency is enforcing the order’s incarcerations for unlawful evictions.”
In addition, there are growing calls for the ban to be matched with adequate rental assistance so that an ouster crisis is prevented rather than merely delayed. So far, Congress has allocated $25 billion in rental assistance but, after months of minutes job losses, rental arrears may be closer to $100 billion.
SIGN UP: Money 101 is an 8-week learning course to monetary freedom, delivered weekly to your inbox.
CHECK OUT: A year after I started my side hustle, it was bringing in $10,000 a month: Here’s what I’ve knowledgeable via Grow with Acorns+CNBC.
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.