A debate is playing out across the country as the Treasury Department begins reallocating some of the $46.5 billion in rental assistance from places slow to spend to others that are running out of funds
States and localities have until September to spend their share of the first $25 billion allocated, known as ERA1, and the second $21.55 billion, known as ERA2, by 2025. So far, Treasury says $30 billion has been spent or allocated through February.that over $1 billion of ERA1 funds would be moved, for a total of $2.3 billion reallocated this year. Larger states like California, New York, New Jersey and Texas are getting hundreds of millions of dollars in additional money.
“We are trying to reallocate the best we can,” said Gene Sperling, who is charged with overseeing implementation of President Joe Biden’s $1.9 trillion coronavirus rescue package. “This is a balancing act, but one that is rooted in commitment to getting the most funds to the most people in need as possible.”
But Democratic Sen. Reynold Nesiba said there was a lack of awareness about the rental assistance and criticized the state for not doing more to promote it. He pointed to a $5 million tourism advertising campaign that was paid for with coronavirus relief funds and questioned why that level of promotion didn’t happen for pandemic relief programs.
Several states argued the reallocation addresses a flaw in the program, which created a funding formula based on population, not the number of renters in a state. “As long as we’re able to serve all our eligible households, hopefully folks will see that there is greater need in other parts of the country that have received a lot less assistance per household,” Hanford said when asked about the state returning $31 million.The state program already reallocated $85 million of its $158 million in ERA1 to its biggest cities of Omaha and Lincoln and their respective counties. It still has nearly $30 million.
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