Department of the Treasury

The G20 has worked diligently to catalyze private sector investment in infrastructure. This work is now more important than ever as governments divert resources towards COVID-19 recovery, and the US is committed to doing its part. First, to help address the investment gap here in the US, the Biden-Harris Administration has proposed a plan to invest $1.7 trillion in public finance over the next 10 years.

The Department of the Treasury announced that it has distributed $105.3 billion to more than 1,500 recipients through the Coronavirus State and Local Fiscal Recovery Funds, established by the American Rescue Plan Act of 2021. This $105.3 billion distribution is part of the $350 billion allocated in emergency funding for state, local, territorial, and Tribal governments.

The Secretary of the Treasury is issuing this interim final rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund established under the American Rescue Plan Act. The funds may be used to make necessary investments in water, sewer, or broadband infrastructure. The interim final rule provides that eligible investments in broadband are those that are designed to provide services meeting adequate speeds and are provided to unserved and underserved households and businesses.

The Secretary of the Treasury is issuing this Interim Final Rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund established under the American Rescue Plan Act.

The Coronavirus Capital Projects Fund (CCPF) will address many challenges laid bare by the pandemic, especially in rural America and low- and moderate-income communities, helping to ensure that all communities have access to the high-quality, modern infrastructure needed to thrive, including internet access. The American Rescue Plan provides $10 billion for payments to States, territories, and Tribal governments to carry out critical capital projects that directly enable work, education, and health monitoring, including remote options, in response to the public health emergency. The America

The Department of the Treasury provides guidance regarding the requirements of the Emergency Rental Assistance (ERA) program established by the Consolidated Appropriations Act, 2021. The Act provides that ERA funds may be used for “other expenses related to housing incurred due, directly or indirectly, to” the COVID-19 outbreak, as defined by the Secretary. What are some examples of these “other expenses”? The Act requires that other expenses must be related to housing and be incurred due directly or indirectly due to COVID-19.