Mnuchin: Treasury to disclose details on eviction moratorium for U.S. renters

Over the spring and early summer, as unemployment surged to levels unseen since the aftermath of the 1930s Great Depression, a patchwork of federal, state and local eviction bans kept renters in homes who could not make payments. The Democratic-controlled House of Representatives passed a bill in May that would extend enhanced jobless aid through January and allocated $100 billion for rental assistance.

U.S. Treasury Secretary Steven Mnuchin said on Tuesday the Trump administration was set to disclose details of an eviction moratorium later in the day.

Mnuchin told a U.S. House of Representatives panel the guidelines were to ensure people "don't get thrown out of their rental homes" as a result of the coronavirus pandemic. Mnuchin called the action a "real moratorium" and urged the U.S. Congress to provide rental assistance.

Mnuchin said the "significant actions" would impact "close to the 40 million renters." He added: "You will see rolled out ... specific guidelines that I think you'll appreciate are quite significant on allowing moratoriums for people who certify, that they can't make their rental payments due to coronavirus related issues."

In July, a firm estimated more than $21.5 billion in past-due rent is owed by Americans. Over the spring and early summer, as unemployment surged to levels unseen since the aftermath of the 1930s Great Depression, a patchwork of federal, state and local eviction bans kept renters in homes who could not make payments.

The Democratic-controlled House of Representatives passed a bill in May that would extend enhanced jobless aid through January and allocated $100 billion for rental assistance. It would also have extended the federal ban on evictions for up to one year.