Treasury launches COVID-19 recovery funds for state, local governments

The Department of the Treasury yesterday released an interim final rule implementing $350 billion in American Rescue Plan Act funding to help state, local and tribal governments recover from the COVID-19 pandemic.

According to a Treasury fact sheet, recipients can use the funds for COVID-19 mitigation efforts, medical expenses, behavioral health care, and mental health and substance misuse treatment; to rehire public sector workers and increase pay for essential workers; aid households and businesses hit hard by the crisis; address public health, economic and educational disparities; and invest in water, sewer and broadband infrastructure, among other uses.

Learn more about the rule and funding allocations here.