Federal Update

The second round of federal COVID-19 relief negotiations have mostly stalled over differences in opinion over the appropriate amount of funding for specific states and localities. However, in recent weeks, Speaker Pelosi has reengaged in negotiation efforts with the White House. The Speaker proposed a $2.2 trillion amended version of the HEROES Act which includes $50 billion for emergency housing and rental relief and $21 billion for the Homeowner Assistance Fund. The White House rejected this proposal and countered with a $1.8 trillion package which includes $300 billion for states and localities. It does not appear that they will reach a final agreement before the November election.

While Senate Majority Leader Mitch McConnell is not directly involved in the most recent negotiation efforts, he has signaled that his members would not be willing to accept the amount of funding suggested in recent White House or House proposals. In recent months, the Senate introduced the $1 trillion HEALS Act and considered a $650 billion “skinny” relief legislation. The HEALS Act is not expected to receive further consideration, and the Senate ultimately rejected the “skinny” relief package in September. 

State Update

The Fifty-Fifth Legislature- First Regular Session will convene on Monday, January 11, 2021 at noon. The Governor is expected to deliver his State of the State speech on the first afternoon of legislative session.

Housing Matters | Fall 2020