����Vlog��ý

Melanie Long offers suggestions for Biden administration’s coronavirus relief bill

Melanie Long, assistant professor��of economics,��commented on��the Biden administration’s coronavirus relief��plan��in an article for��The Conversation, an independent��news organization featuring articles from academic experts.��The��article,��“,”��featured��insights from four economists, including Long,��based at colleges and universities around the country.��Long specifically focused on��how the new relief plan can��“address the eviction crisis”��and targeting communities who need it the most. “The sharp rise in unemployment due to the pandemic has left many Americans struggling to pay the bills,” she said. “Renters have been among��the most vulnerable.” Long explained that��renters are more likely to be “poor, young, and either��Black or Hispanic” and��are only managing because the��moratorium on rent has yet to expire. “About��nine��million households have fallen behind on rent payments, with over��one million estimated to owe over $5,000,” she said.��

In addition to extending the moratorium��passed the new date of March 31, Long��suggests that extra aid��to renters and��landlords��could be beneficial. “Limited income beneficiaries especially are likely to spend every extra penny on food and other goods,��stimulating the economy,”��Long��said. The ����Vlog��ý professor��also pointed out housing inequities and how��Black Americans are much��more likely to rent, rather than own, their homes compared to white Americans, thus making them more likely to lose their homes.��“It’s also largely to blame for the stark racial wealth gap in the U.S.,”��she��said.��

Long��proposed��that Congress��provides��short-term and long-term��solutions to��these systemic issues��for��people��of color. “Congress could begin to address these deeper problems by providing down payment assistance��in historically��redlined communities, which would help thousands that are not currently on the��edge of the financial cliff take advantage of historically low interest rates,” Long said.��

Posted in News on January 26, 2021.