After the House failed in its attempt to extend the ban, three U.S. agencies extended federal foreclosure-related moratoria to protect renters.Driving the news: The House Democratic leaders failed to secure enough votes on Friday to pass the legislation, so the chamber was adjourned for a six week recess one day before the ban expires. According to estimates by the Aspen Institute, up to 15 million people could be evicted.Axios Markets delivers market news that is worth your time. Register now for a free subscriptionState of play: Democrats are divided on whether the ban should be extended. Progressive members accused moderate colleagues of prioritizing vacation above evictees.Rep. Cori Bush (D-Mo. Rep. Cori Bush (D-Mo.) wrote a letter on Friday asking for more empathy after she was evicted three previous times.Bush wrote, "I have experienced firsthand the traumatizing and devastation caused by violence of being expelled. We have a responsibility for doing everything we can to prevent such trauma from being inflicted upon our neighbors and communities."Bush announced Friday night that she would spend the night outside of the U.S. Capitol Building in an effort to convince her House colleagues to reconsider leaving.My Democratic colleagues chose to take a vacation today, rather than voting to keep people in their homes.Tonight, I'll be sleeping outside of the Capitol. There is still much to be done. pic.twitter.com/9l52lWBM73 Cori Bush (@CoriBush) July 31, 2021Some lawmakers also criticised the Biden administration's inability to act quickly enough.According to The Hill, President Biden surprised them on Thursday by urging Congress to extend the ban.After the Supreme Court's ruling that the extension cannot be extended beyond July 31, without congressional approval, he stated that his administration would no more have the power to unilaterally extend it.The Hill reports that House Democratic leaders had to scramble to gather enough votes from their caucus due to the opposition of Republicans to extending the moratorium.It's worth noting that even if the House Democrats were able to pass the bill it would have been killed by Senate Republicans.They are saying that they only found out about it yesterday. Pelosi said that there wasn't enough time for the issue to be discussed within her caucus in order to reach the necessary consensus. "We have had wonderful conversations with our members... but when it comes to the technicalities and legislation, we need more time."Continue the storyMajority Leader StenyHoyer stated that there were concerns about landlords receiving renters' payments.What's going on: The White House tried to alleviate the situation after the House adjourned.The Federal Housing Finance Agency, Housing and Urban Development, Veterans Affairs, and Agriculture Department announced extensions to their moratoria.Agents urged landlords and renters of rental housing to use Emergency Rental Assistance resources in order to avoid having to evict tenants for not paying rent.The agencies stated that helping our Veterans and fellow Americans keep their homes would make their lives easier as they try to rebuild their lives after this crisis.Editor's note: Bush will spend the night outside of the U.S. Capitol.Axios Markets has more: Subscribe to receive the most recent market trends from Axios Markets. Register now for a free subscription
