State and Local Fiscal Recovery Funds supported local government projects and services.
The Department of the Treasury released its data recording the use of the American Rescue Plan funding distributed to local governments through March 2023. The State and Local Fiscal Recovery Fund distributed $350 billion directly to local governments across the country to aid in pandemic recovery.
The Treasury showed that the majority of this funding was used to keep up with necessary governmental services, such as water and sewer projects, public health programs, small business assistance, and job training.
“The State and Local Fiscal Recovery Funds provided resources directly to communities across the country to help local leaders avoid cuts, address immediate needs, and support rapid, resilient, and equitable recovery — helping avoid a repeat of the Great Recession when state and local government budgets were a drag on the overall economy for over three years of the recovery,” said Deputy Secretary of the Treasury Wally Adeyemo.
As the Lord Leads, Pray with Us…
- For Deputy Secretary Adeyemo as he fulfills his role in the Treasury Department.
- For Treasury Secretary Janet Yellen to seek God’s direction as she leads the department.
Sources: Treasury Department
