WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday referred to as on counties, cities and states to focus their remaining COVID-19 pandemic help funding to develop extra employee coaching and inexpensive housing applications.

Talking to the Nationwide Affiliation of Counties convention in Washington, Yellen mentioned the practically two-year outdated American Rescue Plan Act has enabled state and native governments to price range over $14 billion on greater than 1,800 tasks centered on housing.

“And that is only the start,” Yellen mentioned of tasks to be funded by the $350 billion State and Native Fiscal Restoration Fund program, which runs via April 30, 2025.

Yellen mentioned extra inexpensive housing was wanted to serve new manufacturing facilities being created by laws for brand spanking new funding in inexperienced applied sciences, semiconductors and infrastructure tasks.

She mentioned the Biden administration’s aim was to “shut the housing provide shortfall by 2027,” and its plan would require extra motion by Congress.

Treasury will be capable of help counties and different jurisdictions looking for to make investments in housing and job coaching, together with for expert development employees wanted to implement a $1.2 trillion infrastructure funding regulation, she mentioned.

Yellen additionally mentioned {that a} main legacy of pandemic-era housing help applications has been to create a long-lasting nationwide infrastructure for eviction prevention.

“By our depend, 180 jurisdictions throughout 36 states have now created or enhanced buildings and insurance policies for eviction prevention, and far of that may final past the expiration of federal funds.”