(WJW)– A Minnesota Congresswoman has introduced a bill that would cancel rent and mortgage payments for people in the United States until the coronavirus pandemic comes to an end.
Rep. Ilhan Omar (D-MN) recently introduced legislation — the Rent and Mortgage Cancellation Act– that she said will not just suspend, but fully cancel payments during the pandemic.
“The bill would constitute a full payment forgiveness, with no accumulation of debt for renters or homeowners and no negative impact on their credit rating or rental history. The legislation will establish a relief fund for landlords and mortgage holders to cover losses from the cancelled payments and create an optional fund to fully finance the purchase of private rental properties by non-profits, public housing authorities, cooperatives, community land trusts, and states or local governments—in order to increase the availability of affordable housing during this downturn,” she said in a statement.
Rep. Omar said the bill is cosponsored by Reps. Alexandria Ocasio-Cortez (D-NY), Rashida Tlaib (D-MI), Pramila Jayapal (D-WA), Mark Pocan (D-WI), Ayanna Pressley (D-MA), Veronica Escobar (D-TX), Jesús “Chuy” García (D-IL), and Grace Meng (D-NY).
She said Congress has a responsibility to step in during this time of “uncertainty and crisis.”
“In 2008, we bailed out Wall Street. This time, it’s time to bail out the American people who are suffering,” Rep. Omar wrote.