U.S. Congress Passed Coronavirus Stimulus Package 3.5:
No New Housing Resources Authorized
April 29, 2020
On April 23, 2020, the United States Congress passed Coronavirus Stimulus 3.5, a $484 billion relief package for small businesses, hospitals, and testing. No new housing resources have been authorized as a result of this stimulus bill.
"Over 350,000 Connecticut households have filed for unemployment in the last month, and many of them no longer have the ability to pay for their own homes," said Partnership Executive Director Kiley Gosselin. "To prevent a wave of evictions and foreclosures, we urge the federal government and Congress to pass a stimulus bill with significant resources for housing assistance."
Stimulus 3.5 Includes:
- $75 billion for hospitals and healthcare providers for expenses and lost revenue related to COVID-19
- $25 billion allocated for COVID-19 testing, research and development, manufacturing, purchasing, and expanding test capacity.
- $370 billion for the Paycheck Protection Program (PPP) for small business loans. This funding is in addition to the $349 billion previously allocated under the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed at the end of March.
On April 25, the Connecticut Post published an op-ed from Sean Ghio, PSC's Policy Director, outlining the need for housing aid as part of the federal government's COVID-19 response. We anticipate at least one more stimulus package forthcoming.
We will continue to do our best to provide legislative updates during this unprecedented time. Please reach out to email@example.com with any questions.