ABSTRACT

House Budget Bill Provides Needed Fiscal Aid for States, Localities, Tribal Nations, and Territories   [open pdf - 0B]

From the Document: "The sizeable revenue shortfalls and added costs that many states, localities, tribal nations, and territories face due to COVID-19 [coronavirus disease 2019] call for added federal aid that's temporary but significant. The bill that the House Committee on Oversight and Reform will consider this week to meet its reconciliation instructions under the House budget resolution would provide this essential aid and help ensure a strong recovery. Congress should act quickly to provide this aid or risk more public-sector layoffs and cuts in services for families and businesses as states and localities balance their budgets. [...] The House plan includes $350 billion in grants to help states, localities, tribal governments, and U.S. territories like Puerto Rico deal with these shortfalls and avoid additional layoffs. Of that total, states would receive $195.3 billion; municipalities and counties would receive $130.2 billion ($65.1 billion each); tribal nations would receive $20 billion; and U.S. territories would receive $4.5 billion. [...] [T]he funds likely will be used primarily to cover the continued cost of fighting COVID-19, to help people and businesses survive and recover from the pandemic, and to prepare for fiscal strains likely in coming years as the pandemic's long-term damage becomes more apparent."

Author:
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Date:
2021-02-10
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Copyright:
Center on Budget and Policy Priorities
Retrieved From:
Center on Budget and Policy Priorities: https://www.cbpp.org/
Media Type:
application/pdf
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