$350 Billion In Stimulus: Some States Need Instructions on How to Spend It
The Rescue Plan allocated a total of $350 billion, out of its $1.9 trillion overall price tag, to “states, municipalities, counties, tribes, and territories to help repair their coronavirus-damaged budgets and economies,” Reuters said.
The American Rescue Plan, in addition to its $1,400 one-time stimulus checks, expanded child tax credit and other provisions, has also provided aid to state and local governments.
Now, a new report said those governments are waiting for instructions on exactly what to do with that aid.
The Rescue Plan allocated a total of $350 billion, out of its $1.9 trillion overall price tag, to “states, municipalities, counties, tribes, and territories to help repair their coronavirus-damaged budgets and economies,” Reuters said.
U.S. states, cities await guidelines on spending stimulus
By Karen Pierog
Reuters
CHICAGO (Reuters) - U.S. states and local governments are raring to tap billions of dollars coming their way in new federal stimulus funding, but are anxiously awaiting guidance to determine whether items on their wish lists are allowed.
U.S. Treasury Department guidance is also expected to clarify states ability to cut taxes and may address using stimulus money to pay off debt.
The $1.9 trillion American Rescue Plan Act, signed by President Joe Biden in March, allocates $350 billion for states, municipalities, counties, tribes, and territories to help repair their coronavirus-damaged budgets and economies. The federal government has a tight deadline to start distributing the money.
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