NAA Statement on Revised, House-Approved HEROES Act
ARLINGTON, VA | October 1, 2020 – Statement from NAA President and CEO Bob Pinnegar on passage of H.R. 925 in the U.S. House of Representatives:
While the National Apartment Association (NAA) is pleased that the House’s revised HEROES Act contains some helpful provisions, including funding for emergency rental assistance, the bill’s extension of the federal eviction moratorium for an additional year would devastate the rental housing industry. Though politically popular, eviction moratoria are not the answer and do not address the issue at hand – there are bills to pay and not enough money to pay them. The rental housing industry operates on extremely narrow margins and without sufficient financial assistance from the federal government, hard-working Americans will continue to struggle with rent payments and housing providers will continue to face difficult decisions.
We need comprehensive, balanced solutions, not destructive policy that will inflict long-term damage on the nation’s rental housing stock to the detriment of housing providers and the residents they serve. Congress and the Administration must fulfill their responsibility to the American people and act – the homes of 40 million Americans, 17.5 million jobs and a $3.4 trillion industry depend on it.