Yellen promises that local aid will be distributed quickly after the stimulus is passed

Treasury Secretary Janet Yellen on Tuesday promised that money allocated to state and local government aid in the new stimulus bill would get out the door as quickly as possible.

Going through the house management of the $ 1.9 billion spending plan, Yellen said the $ 350 billion earmarked to make up for the shortfall in revenue would be a priority.

“The rescue plan will fund a massive vaccination campaign. It will ensure that people are able to keep a roof over their heads and that unemployment insurance controls still come into play,” she said at a virtual conference of the National League or Cities said. “In the coming days, our Treasury team is going to work to get this help out as quickly as possible – and the one that makes the biggest impact.”

Government assistance was one of the key points in getting President Joe Biden’s stimulus plan through Congress. The measure has received no Republican support in the Senate and is likely to face the same fate in the House.

IDP members argue that the award is a lifeline for poorly managed states and municipalities, while Democrats say it is an important part of the recovery.

“If we do our job, I am confident that Americans will catch up with the other side of this pandemic – and there will be some prosperity. By the end of the year, I expect your urban economy to look much more like 2019. than 2020, ”Yellen said.

Along with state and local aid, the bill also provides another $ 1400 cash intervention to individuals, and funding is provided for the health care fight against Covid-19 and a number of other measures not directly related to the pandemic.

Yellen said the spending package “is not just about fighting fires and resolving crises, but about building a better country.”

“This law will see us through the immediate crisis; remove the chaos before our eyes and let us finally raise our sights to the future,” she added.