WASHINGTON (WAVY) — U.S. Senator Tim Kaine (D-VA) joined fellow Senators and colleagues in reintroducing a $75 billion Homeowner Assistance Fund bill.
Jack Reed, chairman of the Senate Armed Services Committee, Sherrod Brown, chairman of the Senate Banking, Housing and Urban Affairs Committee, and Patrick Leahy, chairman of the Senate Appropriations Committee are also part of the reintroducing.
The legislation is designed to help protect struggling homeowners by preventing avoidable foreclosures, evictions, and utility shut offs.
A statement released by Kaine’s office also says the fund would also provide assistance to communities nationwide and be allocated in part based on a formula that weighs state unemployment claims relative to the number of national unemployment claims.
“Congress has a responsibility to offer assistance to those in need, especially those who have been hit hardest by COVID-19,” Kaine said. “The Homeowner Assistance Fund would be an important step in addressing the housing insecurity many individuals and families across Virginia are experiencing and will be crucial to our economic recovery.”
This support would build off the emergency rental assistance Congress passed in December as part of the comprehensive COVID relief package.
Read the full statement here.