NAR’s Federal Advocacy team has been working closely with Congress and the Administration to ensure the interests of REALTORS® and their clients are protected in any federal action in response to COVID-19, in addition to minimizing transaction disruptions during these very difficult circumstances. As the actions out of Washington evolve daily, below are a number of Q&As to address the ongoing fixes being proposed and implemented in response to the pandemic.
Congress has passed an $8 billion stimulus package providing emergency funding to fight COVID-19, the Families First Coronavirus Response Act (FFCRA), and is currently working on a third stimulus package - the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). More legislative packages targeted at specific industries are expected after the third phase. We will update this document as events warrant.