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Sunday, July 26, 2020

Kudlow suggests extension of federal eviction ban is in works

One of President Donald Trump’s top economic advisers suggested Sunday the government will lengthen a federal moratorium on evictions that has protected millions of tenants from losing their homes in the middle of the pandemic.

Cities across the country are bracing for a surge of evictions after a four-month federal eviction moratorium expired Friday, with no relief in sight from Congress. But a brief comment from White House economic adviser Larry Kudlow during a Sunday appearance on CNN’s “Face The Nation” hinted at an extension provision in the dragging negotiations to approve a new pandemic economic relief package.

“People are worried about being evicted, in days. Literally in days,” host Jake Tapper said in the closing seconds of an interview.

"We will lengthen the eviction, we will lengthen it,” Kudlow replied.

"The eviction moratorium,” Tapper interjected. “OK, well, that's good news."

The federal eviction ban, included in the $2 trillion CARES Act legislation passed by Congress in March, covered all tenants living in buildings that have mortgages guaranteed by the U.S. government. It does not provide help to the majority of tenants who live in buildings with privately backed mortgages.

While states have imposed their own eviction moratoriums, 24 of them have already allowed the temporary bans to lapse.

That leaves somewhere between 19 million and 23 million people — about one in five renters in the U.S. — at risk of eviction by the end of September if Congress fails to extend both the federal ban and supplemental unemployment benefits, according to an estimate by the Aspen Institute.

Kudlow also argued a “V-shaped” economic recovery was still in place — and predicted without offering specifics that the economy would grow at a 20% rate in the third and fourth quarters of this year.

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