Nearly $100 Billion in COVID Relief Money Remains Unspent
Nearly $100 billion of money allocated to help state and local governments through the COVID-19 pandemic remains unspent.
That’s the conclusion of a report published this week by the Government Accountability Office (GAO).
The American Rescue Plan Act of 2021, passed soon after President Joe Biden took office, allocated $1.9 trillion intended to speed up the nation’s recovery from the pandemic. That total included $350 billion for Coronavirus State and Local Fiscal Recovery Funds (SLFRF), a U.S. Treasury Department program that awarded grants to state, local, territorial, and tribal governments.
“Most ($325.5 billion) of the $350 billion” went to “states, the District of Columbia, and local governments,” according to the GAO report. “SLFRF recipients have until December 31, 2024, to obligate their SLFRF awards and generally have until December 31, 2026, to spend their awards.” Of that amount, D.C. and state governments received $195.8 billion.
As of September 30, 2023, the latter group “reported obligating 73 percent ($142.4
billion)” of their total and “spending 53 percent ($103.7 billion).”
In other words, state and D.C. governments are sitting on $92 billion in unspent COVID-19 relief money, more than $53 billion of which has not even been earmarked for anything.
This factoid is made all the more awkward because this week also marks one year since Biden signed a congressional resolution officially declaring an end to the COVID-19 national emergency. And yet, six months later, tens of billion
Article from Reason.com
The Reason Magazine website is a go-to destination for libertarians seeking cogent analysis, investigative reporting, and thought-provoking commentary. Championing the principles of individual freedom, limited government, and free markets, the site offers a diverse range of articles, videos, and podcasts that challenge conventional wisdom and advocate for libertarian solutions. Whether you’re interested in politics, culture, or technology, Reason provides a unique lens that prioritizes liberty and rational discourse. It’s an essential resource for those who value critical thinking and nuanced debate in the pursuit of a freer society.