A final rule to be issued April 1 for spending options for state funding.
The U.S. Department of the Treasury has been providing state governments with funding for the pandemic through the State and Local Fiscal Recovery Funds program, created through the American Rescue Plan. $245 billion of the $350 billion in the program’s budget has already been distributed. The Treasury Department announced last week that they would be enacting the Final Rule for the program on April 1, creating new guidelines for appropriate spending and clarifying old ones.
“As the Delta and Omicron variants have illustrated, pandemic response needs will continue to evolve,” said Deputy Secretary Wally Adeyemo. “These funds ensure that governments across the country have the flexibility they need to vaccinate their communities, keep schools open, support small businesses, prevent layoffs, and ensure a long-term recovery.”
As the Lord Leads, Pray with Us…
- For state governors and leaders to use the funds wisely under these new guidelines.
- For Treasury officials as efforts to support states and their economic recoveries continue.
- That President Biden would seek God’s guidance as he and his administration formulate plans for the nation.
Sources: Treasury Department
