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For Immediate Release

Press Release

Patriotic Millionaires on Eviction Moratorium Expiration: "This is Unacceptable"

"This crisis is not over, and we cannot subject millions of families in this country to the threat of homelessness because some people are ready to move on."
WASHINGTON -

This morning, in response to the White House and Congress failing to extend the eviction moratorium before its expiration on Sunday, August 1st, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at BlackRock, Inc., issued the following statement:

“11 million Americans are now at risk of eviction because Congress and the White House have failed to act. Now that the moratorium has ended, people are being forcibly removed from their homes due to financial circumstances completely outside of their control. This is unacceptable - our government must immediately take action to protect vulnerable Americans. This crisis is not over, and we cannot subject millions of families in this country to the threat of homelessness because some people are ready to move on.

In our interconnected economy, it is simply not an option to abandon so many Americans to financial ruin. This isn't just bad for tenants behind on rent - in the long run it's bad for landlords too. It's also bad for the people who own the stores where they shop, the employees at the restaurants they eat at, and everyone else in their communities. Letting millions of Americans be evicted over the next few months would be a disaster for the entire country, and Congress and the White House have a responsibility to stop this looming catastrophe."

###

The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country’s political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three “first” principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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