WASHINGTON (TND) — During the long months of COVID-19 quarantine, it’s not just businesses that have lost millions of dollars. The lack of tax revenue meant that state and local governments did the same.
Part of the Coronavirus Relief Fund aimed to solve this problem. However, the state and local fiscal stimulus budget would eventually amount to $350 billion.
“We think this meets the wishes of states that have lost a lot,” Sen. Bill Cassidy, R-La. , said at a December 2020 news conference.
Years later, more than a portion remains unused. The U. S. Treasury Department, which now indicates what that cash can be used for, has a little more wiggle room.
The ministry’s updated rule modifies the definition of legal liability to provide greater flexibility to recipients of COVID relief funds. They will no longer have to pay uncommitted cash as long as they have estimates of the amounts they plan to use.
He criticizes it as a “bidenomy slush fund. “
In a new report, the Conservative Center for Economic Policy Innovation detailed how millions of dollars were approved for projects to modernize swimming pools, golf courses, and sports stadiums at a time when the nation’s national debt has reached more than $33 trillion.
As of March of this year, the Government Accountability Office reported states and localities had not even covered 50% of their awards.
“COVID-related assistance was intended to help individuals, establishments, or entities that had genuine needs. To the extent that you don’t have a monetary need, you’re going to have to pay the money back,” Andrzejewski said.
Lawmakers agreed to about $27 million in coronavirus relief cash as Republicans push for a much larger return.