The Treasury Department announced that The Bronx and Queens will soon received $275.47 million and $437.785 million, respectively, as part of the critical funding for states and localities that was passed by Congress in the American Rescue Plan Act of 2021. Representative Alexandria Ocasio-Cortez (NY-14) voted in support of the bill, which will also send $4 billion to New York City and $12 billion to the State.
The Coronavirus State and Local Fiscal Recovery Funds may be used for infrastructure, including expanding internet access and improving drinking water; for public health efforts to stop community spread of COVID-19; to support workers and small businesses who lost income due to the pandemic or whose employment continues to place them at elevated risk of contracting the pandemic; and to replace lost tax revenue, among other uses.
According to the Treasury Department, “Local governments should expect to receive funds in two tranches, with 50% provided beginning in May 2021 and the balance delivered 12 months later. States that have experienced a net increase in the unemployment rate of more than 2 percentage points from February 2020 to the latest available data as of the date of certification will receive their full allocation of funds in a single payment; other states will receive funds in two equal tranches.”
