Millions of Americans could be facing homelessness when the federal eviction moratorium expires on Dec. 31 as negotiations over a relief bill stall in Congress.
More than 14 million American households are currently at risk of eviction and have amassed an estimated $25 billion in rental debt, according to a report by Stout, a global investment bank and advisory firm. When the Centers for Disease Control and Prevention eviction moratorium expires, 4.9 million of them are likely to receive eviction notices in January, Stout found.
A group of bipartisan lawmakers have introduced a $908 billion stimulus proposal which includes plans to alleviate some of the housing-related stress by providing $25 billion in rental assistance. But Senate Majority Leader Mitch McConnell initially rejected the bipartisan proposal and ongoing negotiations may stretch past Christmas.