reserving the right to object. To date, Congress has appropriated nearly $3 trillion to protect, strengthen, and support Americans in all walks of life, to fight the COVID-19 pandemic and to stabilize the infrastructure and our economic system. Senator Brown and I worked on a big part of that package together on a team which was put together by Senator McConnell to try to make sure we addressed, in a bipartisan fashion, the way to respond to this pandemic. The CARES Act has been central to the effort and includes measures to help families directly, to provide aid to small businesses, to assist those in the medical field and on the frontlines of our response effort, and to stabilize our markets. Soon after, Congress passed the Coronavirus Aid, Relief, and Economic Security Act--or CARES Act--codifying and extending these protections and providing financial relief to renters--yes, to renters. Title IV of the CARES Act contains three housing provisions. Section 4022 imposes a 60-day eviction and foreclosure moratorium for single- family borrowers with federally backed mortgage loans. It allows struggling homeowners 1 year of loan forbearance. Section 4023 extends similar relief to multifamily borrowers who are current on their mortgage payments. They can request up to 90-days forbearance as long as they do not evict the tenant or charge late fees during the pandemic. Section 4024 imposes a 120-day moratorium on evictions, fees, and penalties.…
On the recordJuly 1, 2020
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