WASHINGTON—Deputy U.S. Treasury Secretary Wally Adeyemo on Monday called on state, local and tribal governments to use more of their shares of a $350 billion COVID-19 relief fund to address a severe shortage of affordable housing.
Adeyemo was pressing his case during a visit to Los Angeles to highlight California officials’ plans to use $7.4 billion of the state’s $27 billion allotment from the State and Local Fiscal Recovery Funds to address housing needs.
That represents the lion’s share of the $11.7 billion budgeted for housing so far by 570 state and local governments from their recovery funds, which were approved last year as part of President Joe Biden’s $1.9 trillion American Rescue Plan Act.
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