National + Finance | March 8, 2021

$1.9T Rescue Plan Contains Key Provisions for CRE

Although a final vote to reconcile the House and Senate versions is still ahead, the Biden administration’s $1.9-trillion American Rescue Plan is expected to contain numerous provisions important to commercial real estate generally and multifamily in particular. The Senate voted along party lines to narrowly pass its version of the bill late Friday night.

On its website, the National Multifamily Housing Council provides an analysis of key provisions pertaining to the industry, ranging from rental assistance to stimulus checks. The Senate version of the COVID-19 relief package would send stimulus checks to about 17 million fewer Americans than the House version.

While the Rescue Plan contains a provision that federal assistance be used for “necessary investments” in water, sewer, or broadband infrastructure, the Real Estate Roundtable continues to call for a standalone infrastructure plan. It’s part of a coalition calling for passage of such a plan by Independence Day 2021.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).