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New York Gov. Andrew Cuomo on Monday extended the state’s moratorium on evictions through the end of the year.

The statewide moratorium, which was scheduled to expire this week, will be extended until Jan. 1 for residents that have had a financial hardship during the coronavirus pandemic.

New York put a stop to evictions on March 20, near the outset of the coronavirus outbreak.

A New York State moratorium on commercial evictions and foreclosures is in effect until Oct. 20.

Tens of thousands of New Yorkers are reportedly at risk of eviction when the policy expires, as the state struggles to regain its financial footing after a severe coronavirus outbreak in the spring.

About 14,500 New Yorkers could lose their homes when the state’s protections run out. The unemployment rate in the state was 12.5% in August, despite four consecutive months of job creation.

Cuomo, a Democrat, is pushing for Congress to approve more federal aid for state and local governments so New York does not have to resort to other means – like tax hikes – to raise revenue. The state is facing a $14 billion coronavirus-related budget deficit.

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This material may not be published, broadcast, rewritten, or redistributed. ©2020 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

Source: https://news.google.com/__i/rss/rd/articles/CBMiVGh0dHBzOi8vd3d3LmZveG5ld3MuY29tL3BvbGl0aWNzL255LWdvdi1hbmRyZXctY3VvbW8tZXh0ZW5kcy1tb3JhdG9yaXVtLW9uLWV2aWN0aW9uc9IBWGh0dHBzOi8vd3d3LmZveG5ld3MuY29tL3BvbGl0aWNzL255LWdvdi1hbmRyZXctY3VvbW8tZXh0ZW5kcy1tb3JhdG9yaXVtLW9uLWV2aWN0aW9ucy5hbXA?oc=5

News – Cuomo extends moratorium on evictions in New York