© Reuters. FILE PHOTO: House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Chuck Schumer display the “American Rescue Plan” during the enrolment ceremony following passage of U.S. President Joe Biden’s $1.9 trillion coronavirus disease (COVID-19) relief bil
WASHINGTON (Reuters) – The U.S. Treasury says initial reporting showed that U.S. states have appropriated or budgeted 45% of the federal COVID-19 relief funds they had on hand as of July 31, with a greater proportion of funds likely allocated in the last two months.
In a blog published on Thursday, the Treasury’s chief recovery officer, Jacob Leibenluft, said federal funds provided to state and localities under the American Rescue Plan had prevented severe budget cuts and layoffs, bolstered pandemic response efforts and facilitated more longer-term investments.
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