U.S. Treasury says it expects rental aid to reach $25-30 billion by year-end

State and local governments distributed more than $2.8 billion in emergency rental assistance funds to more than 521,000 renters in October, the U.S. Treasury Department said on Monday, forecasting that some $25 billion to $30 billion in such funds would be spent or obligated by the end of the year.

The Treasury said its efforts in recent months to give state and local governments more flexibility in distributing the funds had helped accelerate their flow to renters in need.

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