Among the more ambitious parts of Joe Biden's policy agenda, announced to little fanfare just before the pandemic hit back in February, is a relatively straightforward idea: make the federal housing voucher program — known as Section 8 — universal, available to every low-income family who qualifies.
That policy alone, the focal point of Biden's $640 billion housing plan, would go a long way toward solving this country's affordable housing crisis, according to Julian Castro, the former HUD secretary under President Obama.
The crisis has been exacerbated by COVID-19; an estimated 20 million people are at risk of eviction over the next several months, as state and local moratoriums enacted in March begin to expire along with the federal enhanced unemployment benefits. But even in the absence of an event like coronavirus, expanding Section 8 might be the single best — and most realistic — policy that a Biden administration could pass that would close the delta between families who need access to affordable housing, and families who actually get it, according to Castro. (Right now, an estimated 11 million people are left out).
While homelessness had been on the decline, it has ticked back up in recent years, partially, Castro said, because the Trump administration has not prioritized action on affordable housing
Education is clearly important, Castro said, but it gives a pass to the federal government's responsibility to invest in housing.
"There's no commitment in this administration to actually make those investments," he said, noting that there has been no action in the Republican-controlled Senate on the HEROES Act, which would provide $100 billion in emergency rental assistance for those affected by the pandemic.
But the root problem — spiking rents, not enough inventory, a general decline in the welfare state — long preceded coronavirus.
"The scale of the problem we have...requires significant federal government investment in more affordable housing," Castro said.
The Biden administration will significantly loosen federal mask-wearing guidelines to protect against COVID-19 transmission on Friday, according to two people familiar with the matter.
Russian President Vladimir Putin openly invaded the neighboring country of Ukraine on Thursday following weeks of overtures and discussions on keeping an incursion from happening. David Salvo, the deputy director for the Alliance for Securing Democracy, joined Cheddar to go into the Russian leader's motivations. "What I'm sure he understands is that his invasion of Ukraine in 2014 probably ended the discussion of Ukraine joining NATO, even if publicly we won't admit that, that's just the reality. And I'm sure that President Putin understands that," he said, noting that Putin could be using the taking of Ukraine territory as leverage to gain more security concessions from the West.
Following Russia's incursion into Ukraine, the U.S. is warning businesses and major banks to brace themselves for cyberattacks. Lester Munson, a senior fellow at the National Security Institute, joined Cheddar News to break down what this means for financial institutions “So we need to be concerned about not just intentional Russian hacks against American entities but also what Russia is doing in Ukraine. Those things can impact us as well," he said
After weeks of talks and posturing in hopes of staving off an attack, Russia invaded Ukraine on Thursday, an incident that has already impacted the global economy, including the U.S.. Jason McMann, head of geopolitical risk analysis for Morning Consult, joined Cheddar’s Closing Bell to break down what investors might do to prepare themselves as the crisis continues. "I think there are a few things that we have our eye on over at Morning Consult that could cause the situation to become a bit more severe or unstable as far as market outcomes would be concerned," McMann said. "One of those things would be if the U.S. and the EU kind of moved in concerted fashion to block Russia from the SWIFT transaction system. So, I would say that's one thing that would be worth keeping an eye on."
Alex Walker, candidate for Colorado's 3rd Congressional District, joins Cheddar News to discuss why he's running against Lauren Boebert and the inspiration behind his viral campaign ad.
Lisa Hagen, politics reporter for U.S. News and World Report, joins Cheddar News to preview what to expect from President Biden's State of the Union Address on March 1.
