U.S. Treasury releases initial guidance on ARP spending
The U.S. Department of Treasury released a wave of documents today (May 10) to guide counties and local governments on using direct investment funds through the American Rescue Plan (ARP).
Michigan counties stand to receive about $1.9 billion in such aid.
- Support urgent COVID-19 response efforts to continue to decrease spread of the virus and bring the pandemic under control
- Replace lost revenue for eligible state, local, territorial, and Tribal governments to strengthen support for vital public services and help retain jobs
- Support immediate economic stabilization for households and businesses
- Address systemic public health and economic challenges that have contributed to the unequal impact of the pandemic
“The Coronavirus State and Local Fiscal Recovery Funds provide substantial flexibility for each government to meet local needs — including support for households, small businesses, impacted industries, essential workers, and the communities hardest hit by the crisis. These funds can also be used to make necessary investments in water, sewer, and broadband infrastructure,” Treasury stated.
Treasury has published an Interim Final Rule that implements the provisions of this program.
