U.S Treasury disburses $700 billion in pandemic relief since March
By Ishika Dangayach on Sep 17, 2021 | 04:37 AM IST
The United States Treasury said on Thursday that it has
disbursed about $700 billion of the $1 trillion in COVID-19 assistance programs
handled by Treasury in the first six months since the American Rescue plan (ARP) was enacted into law.
The majority of the money, $450 billion, was delivered
directly to families and households in the form of Economic Impact Payments
totaling more than $400 billion, 106 million Child Tax Credit (CTC) payments totaling
more than $46 billion, and rental assistance totaling more than $5 billion.
Treasury has also given $240 billion in fiscal assistance to
state, territorial, municipal, and tribal governments, which will be used to
combat the pandemic and hasten economic recovery.
“From the start, the policy decisions made and executed by
this administration, including the programs contained in the American Rescue
Plan, were conceived to help all segments of the economy and provide
much-needed relief for families struggling through the pandemic,” said Treasury
Secretary Janet L. Yellen, in a statement.
“While there’s still more work to do to ensure an equitable
and strong recovery over the long-term, it’s clear six months in that President
Biden’s American Rescue Plan is working.”
Over 99 percent of the currently available State and Local
Fiscal Recovery Funds are in the hands of governments across the country, who
are using them not only to meet immediate pandemic response needs, but also to
make long-term investments in their local communities' recovery, equity, and
prosperity.