WASHINGTON (KTVX) – Details on President Joe Biden’s gigantic $1.9 trillion COVID-19 pandemic rescue plan have been released by the White House, giving an idea of where more than $350 billion in state and local fiscal recovery funds is heading.
Administration officials said payments could begin to go out in the coming days to eligible governments, allowing state, local, territorial and tribal officials to offset the economic damage from the coronavirus pandemic.
Guidance from the Treasury Department listed broad categories for spending the money. State and local governments can use the money for public health expenses. They can also offset harm from the downturn to workers, small businesses and affected industries. Money can replace lost public sector revenues. Essential workers can qualify for premium pay, and investments can be made in water, sewer and broadband internet.
But Treasury has also placed restrictions. Officials said the funds should not be used by state and local governments to cut taxes, pay down debt or bolster reserve funds.
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See a county-by-county breakdown below:
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On a national scale, California led the way with a total funding amount of over $27 billion, followed by Texas with over $15 billion and New York with $12 billion.
“Coronavirus State and Local Fiscal Recovery Funds provide eligible state, local, territorial, and Tribal governments with a substantial infusion of resources to meet pandemic response needs and rebuild a stronger, more equitable economy as the country recovers,” the White House says in a fact sheet. “Within the categories of eligible uses, recipients have broad flexibility to decide how best to use this funding to meet the needs of their communities.”
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There are some stipulations, however. Treasure officials said the funds should not be used by state and local governments to cut taxes, pay down debt or bolster reserve funds.
Biden defended this proposed plan by calling it the first step in large-scale economic recovery.
“Some critics said we didn’t need the American Rescue Plan — that this economy would just heal itself,” Biden says. “Today’s report just underscores, in my view, how vital the actions we’re taking are…we’re still digging out of an economic collapse.”
