HomeOthersTreasury Will Send $1B in Rental Aid Funds to these U.S. States

Treasury Will Send $1B in Rental Aid Funds to these U.S. States

The government said Friday it will send more than $1 billion in rental aid to more than a dozen states and dozens of cities and tribes that spent the first wave of money quickly. The Treasury Department is shifting funds to states and local governments that spent the first round of $25 billion in rental assistance quickly, as it clawed back assistance that went unused.

  • California;
  • New Jersey;
  • New York;
  • and the District of Columbia will be the first to receive tens of millions of dollars with low disbursement rates.

Read More: Before Filing Taxes, You Should Read IRS Letter 6419 – What Is It and Why Should You Read It?

The list doesn’t end here as dozens of cities, and towns will receive additional money from the first $25 billion pot of the $46.5 billion rental relief program. Biden Administration has done this to make sure Americans stay in their house at the time of high COVID-19 infection rate all over the country.

Even though the treasury department denied to release additional information states & cities that lost money instinctively, the Biden administration has made one thing clear – any program that fails to obligate at least 65 percent or spend 15 percent of its share by mid-November, they will stand at the risk of losing money.

Right before this announcement was made official, largely rural population areas were particularly at risk of losing funds.

Hikaru Y.https://theeastcountygazette.com
Hikaru is the lead editor at The East County Gazette. He covers news in & out of Sand Diego & the rest of California State.
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