Treasury distributes $1.5 billion in rental assistance as eviction moratorium looms

With a federal ban on evictions scheduled to expire at the end of the month, the Treasury Department is set to announce Wednesday that it has distributed over $1.5 billion in rental assistance across the country in the last month — more than in the last five months combined, according to an administration official. States and cities have struggled to distribute funds to tenants and landlords, and the news comes as the White House is slated to hold its second eviction prevention summit later on Wednesday.

More than $11 million Americans — 16% of renters — are still behind on their rent payments, according to analysis by the Center on Budget Policy and Priorities. In the early days of the pandemic, the Centers for Disease Control and Prevention implemented an eviction moratorium, but it's scheduled to expire on July 31, adding a sense of urgency for those who are eligible for assistance but have yet to receive it. Congress approved more than CBS News for both tenants and landlords, but getting it into their hands has proved challenging. Exact amounts renters and landlords can receive depend on their income and where they live, but renters could get enough to cover rent from as far back as March 13, 2020, unpaid utilities and even, in some cases, future rent.