The Centers for Disease Control and Prevention (CDC) announced a national eviction moratorium in September 2020 to protect renters from living on the streets. The ruling could result in millions of tenants losing their homes, and the Department of Justice then said it would appeal.
The CDC’s eviction ban expired at the end of January this year, but after President Biden took office, he first announced an extension until April, and later extended it to the end of June.
The Department of Justice: will definitely appeal
The Department of Justice pointed out on the 5th that the federal court judge’s decision will definitely be appealed; supporters of the forced eviction ban advocate that this measure is necessary because many people are still facing forced eviction under the impact of the epidemic, or housing foreclosures by creditors.
According to the Census Bureau’s Household Pulse Survey, nearly 4 million people across the United States say they are likely to be evicted or foreclosed upon within the next two months.
Since the national eviction ban went into effect, many states have seen landlords file lawsuits in court, arguing that the ban has led to financial hardship and that the ban violates landlords’ real estate rights.
Salary Protection Program Funding Runs Out and Applications Stop
On the other hand, the Payroll Protection Program (PPP), a federal government program for small businesses during the epidemic, was closed by the Small Business Administration (SBA) four weeks before the program deadline. The Small Business Administration (SBA) announced on the afternoon of the 4th that it had run out of funds and stopped accepting applications.
Congress allocated $292 billion for the “Wage Protection Loan Program” to be used for the latest round of loan disbursement, but the SBA said on the 4th to the enterprises and business groups that applied for the loan, the money has been used up. The original deadline for applications for the “Payroll Protection Loan Program” was May 31.
According to federal government statistics, the “Payroll Protection Loan Program” has issued $780 billion in forgivable loans since its creation in 2020, and 10.7 million small businesses have received loans.
The New York Times reported that although the outside world had previously expected that the “Payroll Protection Loan Program” money might run out before the deadline, but four weeks early to declare that there is no funding, indeed, many loan companies were surprised.
Recent Comments