WASHINGTON (Pakistan Point News / Sputnik - 20th May, 2021) The coffers of US state, local, territorial and tribal governments swelled by a collective $105.3 billion during the first 11 days of COVID-19 relief effort recently signed into law, the Treasury Department said on Thursday.
"Only 11 days since announcing the $350 billion allocation and guidelines on ways the funds can be used to respond to acute pandemic-response needs, fill revenue shortfalls among state and local governments, and support the communities and populations hardest-hit by the COVID-19 crisis, the Department already distributed approximately 30% of the total allocation," a Treasury press release said.
The initial distribution, as well as remaining funds, are part of the recently approved $1.9 trillion American Rescue Plan (ARP), the release said.
The Coronavirus State and Local Fiscal Recovery Funds under the ARP provide substantial flexibility for each jurisdiction to meet local needs � including support for households, small businesses, impacted industries, essential workers, and the communities hardest hit by the crisis, the release added.
