PRESS RELEASE: Councilmember Ryu Calls for Federal Rent and Mortgage Forgiveness

LOS ANGELES - Councilmember Ryu today urged Congresswoman Maxine Waters, Chair of the House Financial Services Committee, to introduce legislation ensuring rent and mortgage forgiveness for the millions of renters, homeowners and commercial property owners impacted by the Coronavirus pandemic. Councilmember Ryu encouraged this policy to be included in the next federal stimulus package.

FOR IMMEDIATE RELEASE:  

April 1, 2020

Contact for Councilmember Ryu:

Mark Pampanin

mark.pampanin@lacity.org

213.407.7616

Councilmember Ryu Calls for Federal Rent and Mortgage Forgiveness

LOS ANGELES - Councilmember Ryu today urged Congresswoman Maxine Waters, Chair of the House Financial Services Committee, to introduce legislation ensuring rent and mortgage forgiveness for the millions of renters, homeowners and commercial property owners impacted by the Coronavirus pandemic. Councilmember Ryu encouraged this policy to be included in the next federal stimulus package. 

“We cannot let a pandemic throw millions of Americans into unmanageable debt,” Councilmember Ryu said. “The economy around working people has collapsed. Every level of government must help working people focus on what matters: Their health, their family, and putting food on the table,” Councilmember Ryu said. “Not bills that they can’t pay and debt that they can’t manage.”

Congresswoman Waters has been a champion for the economically disadvantaged during her helm of the Financial Services Committee, as well as a leading voice for holding banks and financial institutions accountable. Representative Waters played an integral role in the most recent $2 trillion stimulus package, which included increased unemployment benefits, increases to Medicaid, and direct cash payments to Americans earning less than $75,000 a year.

Yesterday, Councilmember Ryu wrote to State leaders asking them to move the property tax deadline from April 10th to July 15th, to match the deadline delay made by the federal Internal Revenue Service (IRS). Councilmember Ryu is continuing to seek a freeze on rent and utility increases in the City of Los Angeles.

Read Councilmember Ryu's letter here.

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Assistant City Council President Pro Tempore David E. Ryu represents Los Angeles’ 4th Council District which includes Griffith Park, Sherman Oaks, Toluca Lake, Hollywood, Hollywood Hills, Los Feliz, Silver Lake, Miracle Mile, Hancock Park, Windsor Square, Larchmont and portions of Koreatown and Van Nuys. 


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