The House Financial Service Committee Introduces Large Bill to Address COVID-19

Posted by Ben Shuey on April 30, 2020

The House Financial Services Committee Chair, Maxine Waters (D – CA 43) introduced the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321). The bill includes provisions to protect consumers, renters, homeowners, and people experiencing homelessness, including a bill from Congressman Denny Heck (D-WA 10) to provide $100 billion in rental and utility payment assistance to renters in non-assisted housing.

• Representative Denny Heck’s (D-WA) bill to provide $100 billion in rental and utility payment assistance to renters in non-assisted housing. (Section 105)
• Representative Denny Heck’s (D-WA) bill to allow tribes and tribally designated housing entities to access federal homeless assistance grant funding to address homelessness on tribal lands. (Section 107)

The Chairwoman remains committed to adding additional legislative solution to this bill and providing a thorough response to the economic challenges posed by the pandemic. Below is a quote from Congressman Heck on the important role of this legislation.

“Housing is the single largest expense for most American families. By a longshot. Right now, those same families are facing job loss, struggling with child care, and dealing with other unprecedented financial burdens stemming from the global COVID-19 crisis – and many are unable to make next month’s rent. We have to get meaningful help to them as soon as we possibly can. Using the ESG program to provide more rental assistance is something we can do right now.”

You can view the entire bill text  here. We continue to stay closely engaged as Congress discusses the next phase of legislation, and are advocating for a number of credit union priorities through out the process. 

Posted in Advocacy on the Move.