House Leadership Issues Revised $2.2 Trillion Coronavirus Relief Bill
Late yesterday, House Speaker Nancy Pelosi (D-CA) issued a revised version of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, cutting more than $1 trillion from the original version of the legislation the House passed in May. However, it remains to be seen whether renewed conversations among House, Senate, and White House negotiators will result in further coronavirus relief action before the election, as thus far Republicans have resisted spending as much as proposed in the revised bill.
The scaled-back bill includes reductions in many housing programs from the totals passed in the original HEROES Act, including less funding for both emergency rental assistance and the Homeowner Assistance Fund. The new bill includes $400 million for HUD’s Native American Programs, which was not included in the original HEROES Act, and an increase in funding for the Housing Opportunities for Persons with AIDS program, but these appear to be the only increases in affordable housing funding. Following is a list of housing programs comparing funding levels from the September revised HEROES Act to the original May HEROES Act:
|Original HEROES Act (May)||Revised HEROES Act (September)|
|Coronavirus Relief Fund for States||$540 billion||$257 billion|
|Coronavirus Relief Fund for Localities||$375 billion||$179 billion|
|Emergency Rental Assistance through Emergency Solutions Grant (ESG)||$100 billion||$50 billion|
|Homeowner Assistance Fund*||$75 billion||$21 billion|
|ESG in addition to Emergency Rental Assistance||$11.5 billion||$5 billion|
|Community Development Block Grant||$5 billion||$5 billion|
|Tenant-Based Rental Assistance||$4 billion||$4 billion|
|Public Housing Operating Fund||$2 billion||$2 billion|
|Project-Based Rental Assistance||$750 million||$750 million|
|Housing for the Elderly||$500 million||$500 million|
|Rural Rental Assistance||$309 million||$309 million|
|Native American Programs||$0||$400 million|
|Housing for Persons with Disabilities||$200 million||$45 million|
|Housing Counseling**||$100 million||$100 million|
|Housing Opportunities for Persons with AIDS||$15 million||$65 million|
|Fair Housing||$14 million||$14 million|
* The small state minimum for the Homeowner Assistance Fund is reduced from $250 million under the original bill to $80 million under the revised bill.
** Housing Counseling under the revised bill is provided to the Neighborhood Reinvestment Corporation, rather than the separate Housing Counseling account at HUD.
Like the original HEROES Act, the revised bill does not include NCSHA’s Housing Credit priorities, which instead are included in the House-passed Moving Forward Act (H.R. 2).
While a vote on the revised bill in the House has not yet been scheduled, the House could vote on it this week.