The $1.9 trillion stimulus package signed by President Joe Biden allocates $21.55 billion to the Emergency Rental Assistance program to provide rent assistance for those in need.
[Stay on top of all the new stimulus bill developments – Sign up for the Kiplinger Today E-Newsletter. It's FREE!]
Eligible recipients can use the funds to pay for rent, utilities and other energy costs. To qualify, your household must not exceed 80% of your area’s median income and at least one member of your household must have qualified for unemployment or experienced financial difficulties because of the pandemic. You can receive up to 12 months of assistance, plus an additional three months if you’re at risk of homelessness. Maximum payouts may be determined by your state or local housing assistance program.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
To apply, households (or their landlord) must submit an application to their state or local housing rental assistance program. Once approved, the local agency distributes funds directly to the landlord or your utility provider.
The bill also allocates $5 billion in emergency housing vouchers for those who recently became homeless or are on the brink of homelessness. The voucher fund will be available through September 2030.
-
Five Common Credit Mistakes and How to Avoid ThemMistakes are an often inevitable fact of life, but knowledge truly is power when it comes to financial wellness.
-
Should You Change Your Estate Plan Before the Election?You might need to modify your estate plan before the election — or at least before a new administration.
-
Will EVs Drive the Vote in Election 2024 Swing States?Tax Credits Electric vehicle tax credits have somehow become controversial. So car buyer attitudes in swing states might make a difference.
-
How Four Recent Supreme Court Rulings Impact Your MoneySupreme Court Some U.S. Supreme Court decisions could affect your finances. Here’s what you need to know.
-
Are Student Loans Being Forgiven or Not?Student Loans The House and Senate voted to repeal President Biden’s student loan forgiveness plan, but does it even matter?
-
Etsy, eBay, PayPal Want IRS 1099-K Relief for Online SellersIncome Tax Companies like eBay, Etsy, and PayPal want Congress to raise the $600 reporting threshold for IRS Form 1099-K to give relief to millions of sellers who use their sites.
-
Student Loan Forgiveness Blocked For Now Due to Court RulingsBiden's student loan debt forgiveness program is on hold until the U.S. Supreme Court weighs in.
-
Student Loan Refunds Are Real, But You Might Not Be Eligiblestudent loans Since President Biden announced student loan debt relief, there has been a lot of talk about student loan refunds, which surprisingly have been around for a little while.
-
What's Happening With Biden Student Loan Forgiveness?Student Loans The Biden administration has cancelled billions in student loan debt through various programs and initiatives.
-
How Congress Might Ease the Pilot Shortagetravel Congress is debating how to fix the current pilot shortage, and one idea revolves around retirement age.
