President Joe Biden signed the American Rescue Plan into law on March 11. The U.S. Treasury Department has 60 days to promulgate rules for the program and send federal aid directly to entitlement cities and to the state to be sent, unencumbered, to the municipalities within 30 days. Treasury Secretary Janet Yellen acknowledged during congressional testimony that there are many thorny issues that need to be resolved and Treasury is working 24/7 to resolve them by the deadline.
The League will share new information as it becomes available. In the meantime, if you would like more information on the American Rescue Plan please view our March 12 American Rescue Plan briefing or March 11 blog post.
Contact: Paul Penna, Legislative Analyst, ppenna@njlm.org, 609 695-3481, x110.