The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement regarding the Biden Treasury Department’s mismanagement of the Emergency Rental Assistance (ERA) programs, as outlined in a newly released report from the Government Accountability Office (GAO) and public reporting:

“The Biden Treasury Department continues to fail low-income renters impacted by COVID,” said Republican Leader McHenry. “It appears the Administration has squandered yet another opportunity to help those in need by overpaying for poor results. As Committee Republicans consistently said last year, Treasury has chronically mismanaged the $46 billion in Emergency Rental Assistance Congress enacted to eliminate the unpaid rent debts caused by COVID.

“Now, between the GAO’s findings and recent revelations about New York’s mismanagement of ERA funds, it is clear Treasury still doesn’t know how to use that money to help struggling renters and property owners. This is due to poor planning, ineffective guidance, and a complete lack of basic internal oversight controls to ensure taxpayer dollars are not wasted. These consistent failures by the Biden Administration demand immediate investigation.”

Committee Republicans are leading the fight to protect America’s renters:

On April 14, 2021, Republican Leader McHenry introduced H.R. 2526 to enhance accountability of the financial services portions of Democrats’ so-called American Rescue Plan (ARP), including the Emergency Rental Assistance program. This legislation would increase transparency into these portions of the ARP by bringing them under the same bipartisan oversight structure as the CARES Act.

On June 25, 2021, Republican Leader McHenry and French Hill (AR-02), the top Republican on the Subcommittee on Housing, Community Development, and Insurance, released a statement denouncing the Biden Administration’s shortsighted extension of the eviction moratorium.

On July 13, 2021, Republican Leader McHenry sent a letter to Chairwoman Maxine Waters (CA-43) demanding that Treasury Secretary Yellen testify alongside Housing and Urban Development (HUD) Secretary Fudge to answer for the mismanagement of the ERA programs.

On August 4, 2021, Republican Leader McHenry sent a letter to Chair Maxine Waters again urging her to convene a hearing with Treasury Secretary Yellen to hold the Administration accountable for its mismanagement of the ERA programs and find a permanent solution to pay off renters’ back rent.

On August 6, 2021, Republicans on the House Financial Services Committee and Energy and Commerce Committee, led by Republican Leaders Patrick McHenry and Cathy McMorris-Rodgers (WA-05), sent a letter to Speaker Nancy Pelosi (CA-12) demanding she bring the House back to work to find a permanent solution for tenants at risk of eviction.

On August 28, 2021, Republican Leader McHenry issued a statement in support of the Supreme Court’s decision to strike down President Biden’s unconstitutional eviction moratorium and again pushed Congress to permanently address the mismanagement of ERA funds.

On September 14, 2021, Republican Leader McHenry outlined how Democrats’ partisan ERA reform bill would slow the pace of relief to renters and property owners at a Committee markup. Democrats’ have not brought their unworkable legislation to the House Floor for a vote.

-House Financial Services Committee

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